The fourth (4th) amendment of the Decision approving the funding applications under the Action: subsidy of working capital for those affected by the Pandemic of Tourism Hospitality Enterprises - REINVENTION OF TOURISM of EPANEK, regarding the additional inclusion of one thousand six hundred and thirty-seven (1.637) funding applications, public expenditure 57.547.970,57 euros, has been published.

particularly:

a) The 1,565 applications concern small and medium enterprises. The total public expenditure amounts to 34,670,110.59 euros. With this amendment, the total integrated/co-financed projects in the Action amount to four thousand seven hundred and seventy-two (4,772). The total public expenditure of these amounts to 127,043,189.64 euros.

b) The fifty-nine (59) applications concern small and medium-sized enterprises with financing of more than 200,000 euros per enterprise. The total public expenditure amounts to 19,136,530.46 euros. With this amendment, the total integrated/co-financed projects in the Action amount to one hundred and seventy-seven (177). The total public expenditure of these amounts to 57,075,705.68 euros.

c) The thirteen (13) applications concern large companies. The total public expenditure amounts to 3,741,329.52 euros. With this amendment, the total projects included in the Action amount to forty-two (42). The ineligible for co-financing (based on paragraph 2 of article 33 of Law 4314/2014) total public expenditure, for large enterprises, amounts to 12,435,475.69 euros.

With the amendment, the total projects included in the "Restart Tourism" Action amount to four thousand nine hundred and ninety one (4,991). The total public expenditure amounts to 196,554,371.01 euros.

Target

The Action: Tourism relaunch aims to supporting the operation of tourism businesses after the restart of their operations and in view of the official start of tourism activity for 2021 under the COVID-19 pandemic regime. The support to businesses will be provided by providing them with sufficient liquidity to restart their economic activity, through non-refundable aid for part of the working capital.

Budget of the Action: relaunching tourism

350 million euros for all the regions of the country, which are divided into 300 million euros for Small and Medium Enterprises and 50 million euros on Large Enterprises .

This amount may be increased to cover all positively assessed applications for funding.

React EU - The Action is funded as part of the Union's response to the COVID-19 pandemic.

Beneficiaries of the Action: tourism restart

Tourist businesses regardless of their legal form and in particular hospitality businesses of all types, tourist agencies , as well as tourist bus operators, whose codes are included in the Detailed Call.

Subsidy for Fourth Amendment

Up to 400,000 euros per business with a distinct VAT number. Each enterprise will be awarded a total grant in the form of working capital, which may amount to a maximum of 5% for enterprises with an eligible nace code in category 55. The percentage is set at 2.5% for companies with another eligible SMR of the annual Turnover of the year 2019.

For companies that have started operations in 2019 or 2020, the non-repayable aid may amount to a maximum of 5% or 2.5% depending on the eligible activity of the discounted turnover of the year of commencement of operations (2019 or 2020).

In businesses that in the year 2019 were in the construction stage and demonstrably had no income from business activity of any kind, a total non-repayable grant that may amount to a percentage of 5% or 2.5% depending on the eligible activity, on the total or reduced Turnover of the year 2020.

Basic Conditions of Participation for Fourth Amendment

Businesses should, inter alia, meet the following conditions:

• Have started work by 31.12.2020.
• Have completed at least 1 SRM of paid employment in the year 2019. The condition is presumed to be fulfilled in the case of businesses established in 2020. Also for businesses that in the year 2019 were demonstrably in the construction stage and did not have income from business activity of any kind.
• Have until 31.12.2020 as their main activity code or activity code with the highest revenues one of the eligible Nace codes of Chapter 6: "ELIGIBLE AREAS OF ACTIVITY". Specifically, for businesses that start operations before 01.01.2020, the audit is based on the CAR with the largest revenues, as indicated in the relevant Field of the E3 Tax Year 2019 Form submitted in the year 2020. For companies that started work in 2020, as well as for companies that were in the construction stage in the year 2019, the audit is based on the main Nace code of activity.
• Keep haplographic or duplicative books of n. 4308/2014.
• Be liable to submit VAT returns.
• Show a decrease in their turnover in the year 2020. The percentage must be at least 30% in relation to the 2019 turnover.
• Submit one Funding Application per VAT number and only for one eligible Activity Code Number, for all their tourist accommodation facilities or other tourist activities.

More information about the action here .