Ministry of Development: What is changing in strategic investments

By George Lampiris

Focuses on strengthening the investment climate and significantly accelerating the time of return of aid to beneficiaries for the implementation of strategic investments, the draft law of the Ministry of Development and Investment “Strategic investments and improvement of the investment environment through the acceleration of processes in private and private investments and creating a framework for tech-savvy companies “. This bill was submitted today for discussion to the competent Standing Committee on Production and Trade. The aim is to open up to a wide circle of investors.

For this purpose, at the heart of the bill are provisions related to environmental protection, as it provides for the expansion of urban planning legislation, so as to include all investments that are characterized as strategies, a designation that also acquires a wider audience of recipients – potential investors, as they decrease. and the required financial figures.

The aid provided for in the new draft law includes the acceleration of investment approval procedures. In addition, the payment of the aid or the use of the benefit by the beneficiary can be made either in a lump sum with the issuance of the decision of completion and commencement of productive operation of the investment plan or in stages.

The aid granted

More specifically, among the aids is the tax exemption, where with the certification of implementation of the investment cost by 50% or by 65% ​​after the audit by the competent control body, the relevant decision on the approval of the investment is issued within thirty days from its submission. audit report.

In the case of the grant of the invested amount, 25% of the approved grant is foreseen that can be paid to the beneficiary with the implementation of a project of total amount equal to at least 25% of the total cost of the investment, upon request to the State Aid Information System. accompanied by supporting documents that will prove the implementation of 25% of the investment, with the decision of the management in this case to be issued within 20 days from the submission of the relevant request.

As for the remaining amount up to 50% or 65% of the approved grant, it can be paid to the beneficiary upon his request and after the certification of the implementation of 50% or 65% of the total cost of the investment project by competent body through on-the-spot or administrative control. The certification is carried out with the issuance of a relevant decision, by the competent bodies within 30 days from the submission of the audit report.

The aid also provides for a finance lease subsidy where the start of payment of the subsidy can take place after the certification by the competent control body of the installation in the unit, of all the leased equipment, according to the finance lease agreement. The subsidy is paid every six months and after the payment of the rent installments by the investor.

Incentives to increase strategic investment costs

The investment incentives provided by the bill provide for the incentive for location related to the integration, for example, areas that occupy up to 50% of the main investment property. Tax incentives are also provided, which are provided by a decision of the Interministerial Committee for Strategic Investments, with the right to stabilize the tax rate for twelve years from the moment of completion of the investment plan. Prominent licensing is also the rapid licensing for the execution of projects, the installation or operation of strategic investments, including spatial permits.

Among the provisions of the bill is the granting of incentives to support strategic investment expenditures, where by decision of the competent Interministerial Committee on Strategic Investments, it is possible to provide, among other things, aid in the form of grants to support expenditures such as hiring or people with disabilities, research and development aid.