With the issuance of the seven decisions for the equal cycles of the repayable advance, the tax administration enters the final phase for the posting of the liquidations and then the payment of the amounts due to each business and professional.
As it results from the decisions, for each cycle of the repayable advance payment, a different debt ID will be posted on the AADE website. This helps those who have taken out a government loan to choose different ways to repay it. That is, one will be able to choose a department to pay it in a lump sum and the rest in installments. In this case, with the one-time payment, the amount paid is further limited, while the balance can be paid in up to 96 interest-free installments.
Based on the above, the government loan can be repaid:
1. One-time payment of the amount for all seven cycles of the repayable advance, earning an additional 15% discount on the total amount due, provided of course that the amount is paid by July 29th.
2. With a one-time payment, for example, of four cycles, with a discount for the resulting amount of 15%. For the remaining 3 cycles (if one participated in all 7 cycles) the amount of the debt can be repaid in 96 interest-free installments. For example, a company received 7 repayable advances out of a total of seven cycles. The amount to be returned is set at 3,000 euros for the first, 5,000 euros for the second, 5,000 for the third and 4,000 for the fourth. For the other three from 3,000 euros. In case he chooses to repay the amount of the first four rounds in a lump sum, he will have a 15% discount, and specifically he will pay (17,000-15%) 14,450 euros, provided that the amount will be paid by July 29. The remaining amount (3,000 x 3) of 9,000 euros can be returned in 96 installments, paying the amount of 93.75 euros each month.
3. Repayment of the total amount owed resulting from all debt identities in 96 installments. For example, someone who is asked to repay the total amount of 35,000 euros will have to pay the first installment on July 29, which amounts to 364.5 euros.
According to the decisions of the Ministry of Finance and the AADE, the refundable amount is not charged with interest rate. The first installment can be paid either as a lump sum with a 15% discount at the end of July or in 96 installments, with the first installment also being paid at the end of July. After posting the amounts to be repaid by each company, those interested should look for it on the AADE website, www.aade.gr, in the option “myAADE / my account / Personalized information / Debt Details and Payment” . As long as the employee retention clause provided in each cycle of Refundable Advance has been complied with and there are no violations of the relevant legislation, the possibility of reimbursing the following percentages of the aid is provided:
a) For companies that have started operations before January 1, 2019, did not open a branch from April 1, 2019 until December 31, 2020 and have positive gross income in 2019:
– 25% of the aid, if the reduction of the gross income of the company in 2020 exceeds 70%, in relation to 2019, and the company shows losses before taxes or
– 33.3% of the aid, provided that the reduction of the gross income of the company in 2020 amounts to at least 30% and up to 70%, compared to 2019, and presents losses before taxes or
– 50% of the aid for other companies.
b) For new companies that have started operations after January 1, 2019 or for companies that opened a branch from April 1, 2019 to December 31, 2020 or have zero gross income in 2019:
– 25% of the aid, if the reduction of the gross income of the company in 2020 exceeds 30%, in relation to the income of 2019, and the company presents losses before taxes or
– 33.3% of the aid for other companies.
Who will repay the state loan in full
AADE has sent to the audit mechanism instructions on how to deal with companies and professionals who did not comply with the conditions (retention of staff) and what to do if they find that the aid ceiling has been exceeded or false information has been submitted. According to the instructions:
a) All the aid granted is immediately due in the event that the company is not a beneficiary or has not complied with the terms of the decision to retain staff.
b) The excess amount of aid in case the company is the beneficiary of a smaller amount than the granted one is repaid with interest from the date of granting the aid, with the recovery rate of the European Commission. The above also applies to the repayment of all the granted aid, in case the required supporting documents are not submitted.
In the event that a receipt has been issued for the repayable amount and the relevant debt ID and the audit shows that:
The company was not the beneficiary of the aid: Then the repayable amount confirmed is written off and at the same time a new collection title is issued for the immediate return of all the aid with interest, as an unduly paid amount.
The company is the beneficiary of a smaller amount of aid: The unduly paid amount received by the beneficiary is calculated by AADE. The excess amount that may have been paid against the original recovery order is not refundable, but is credited to the debt arising from the new recovery order.
For the above cases the companies lose the 15% discount on the one-time payment.
Source: Capital
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