The fixed cost coupon is also valid in 2022

By Prokopis Hatzinikolaou

The Ministry of Finance plans to extend the fixed expenditure program for the 31,000 companies participating in the program, according to Minister Chr. Staikoura. According to information, by the end of October, taxes and contributions amounting to 250 million euros had been offset, while by the end of the year, ie this month and in December, it is estimated that liabilities amounting to 130-150 million euros will be offset.

Based on the above data, an amount of around 50-80 million euros may not be used by the liable companies until the end of the year, when it expires. In this context, the government plans to extend the program to the first quarter of 2022, something that must be approved by the Commission in order for companies to benefit by paying the current obligations of the period January – March 2022.

If he answers in the affirmative, it will apply to all EU countries. who have used the program. Otherwise any balance of aid remaining after the end of December is automatically canceled. According to circles of the Ministry of Finance, the possibility of approving the extension is a big one given the big problems that the pandemic crisis continues to create in companies.

Based on the data, most of the voucher of the fixed expenses subsidy program will be directed for the payment of insurance, while the rest for the repayment of tax liabilities created. Specifically, out of about 450 million euros, 31,000 companies decided that about 240 million euros will be used to pay insurance contributions and 210 million euros for tax liabilities, such as income tax, ENFIA and VAT.

It is noted that the aid in the part concerning the right to deduct from tax debts is applied as a deduction from tax liabilities of the year 2021, which become payable from 1 July 2021 to 31 December 2021:

a) From income tax of natural persons or from income tax of legal persons / legal entities.

b) From ENFIA.

c) From VAT.

d) From any other tax, contribution or monetary penalty that falls within the scope of the Tax Procedure Code.

In the meantime, the beneficiaries of the fixed expenditure subsidy program have until November 15 to submit the required documents to the platform of the Independent Public Revenue Authority (AADE), “myBusinessSupport”.

The required documents are:

a) Responsible statement of the company’s accountant certifying that the company on 31.12.2019 (depending on the legal form and type of books of the company): either had not lost more than half of its registered capital due to accumulated losses, or not had lost more than half of its capital, as shown in the company accounts, due to accumulated losses. The above is not required in the case of independent sole proprietorships, as well as in the case of small and very small enterprises. In the case of a large enterprise, the statement must confirm that in the last two years: the corporate debt-to-equity ratio was not higher than 7.5 and the corporate debt-to-equity ratio (EBITDA interest coverage ratio) was not below 1.0.

b) Single certificate of judicial solvency.