The seven joint ministerial decisions were published in the Official Gazette, which amend the corresponding issued decisions, which have been issued to date and related to the Refundable Advance 1 – 7. These decisions shall determine the amounts which will eventually be reimbursed, in relation to the initial total amount paid, as follows Repayable Advance in businesses affected by the coronavirus pandemic. At the same time, the deadline for the presentation by the interested parties of the prescribed certificates is extended until 31/12/2021.

The joint ministerial decisions on the Refundable Advance

January 2021

The sub. no. GDOU 1053 (Government Gazette B 5307/16.11.2021) joint ministerial decision of the Ministers of Finance and Development and Investments. It is modified by this the sub. no. GDOU 232/1-3-2021 corresponding joint ministerial decision on the Procedure and conditions for granting aid with a Refundable Advance to businesses that were financially affected due to the appearance and spread of the coronavirus disease COVID-19, during the month of January 2021" (Government Gazette B' 804).

March 2020 – August 2020

The sub. no. GDOU 1050 (Government Gazette B 5308/16.11.2021) joint ministerial decision of the Ministers of Finance and Development and Investments. It is modified by this the sub. no. GDOU 233/10-10-2020 corresponding joint ministerial decision on the Procedure and conditions for granting aid with a Refundable Advance to businesses that were financially affected due to the appearance and spread of the coronavirus disease COVID-19, during the months of March to August 2020" (Government Gazette B' 4471).

September 2020 – December 2020

The sub. no. GDOU 1052 (Government Gazette B 5307/16.11.2021) joint ministerial decision of the Ministers of Finance and Development and Investments. It is modified by this the sub. no. GDOU 19/25-1-2021 corresponding decision on the Procedure and conditions for granting aid with a Refundable Advance to businesses that have been financially affected due to the appearance and spread of the coronavirus disease COVID-19, during the months of September to December 2020" (Government Gazette B' 236).

September 2020 – October 2020

The sub. no. GDOU 1051 (Government Gazette B 5306/16.11.2021) joint ministerial decision of the Ministers of Finance and Development and Investments. It is modified by this the sub. no. GDOU 281/13-11-2020 corresponding joint ministerial decision on the Procedure and conditions for granting aid with a Refundable Advance to businesses that were financially affected due to the appearance and spread of the coronavirus disease COVID-19, during the months of September and October 2020" (Government Gazette B' 5047).

January – March 2021

The sub. no. GDOU 1054 (Government Gazette B 5305/16.11.2021) joint ministerial decision of the Ministers of Finance and Development and Investments. It is modified by this the sub. no. GDOU 420/23-4-2021 corresponding joint ministerial decision on the Procedure and conditions for granting aid with a Refundable Advance to businesses that were financially affected due to the appearance and spread of the coronavirus disease COVID-19, during the months of January, February and March 2021" (Government Gazette B' 1689) .

March – April 2020

The sub. no. GDOU 1049 (Government Gazette B 5303/16.11.2021) joint ministerial decision of the Ministers of Finance and Development and Investments. It is modified by this the sub. no. GDOU 148/3-7-2020 corresponding joint ministerial decision on the Procedure and conditions for granting aid with a Refundable Advance to businesses that were financially affected due to the appearance and spread of the coronavirus disease COVID-19, during the months of March, April and May 2020" (Government Gazette B' 2729).

Reimbursable Advance - Enterprises affected financially

The sub. no. GDOU 1048 (Government Gazette B 5303/16.11.2021) joint ministerial decision of the Ministers of Finance and Development and Investments. It is modified by this the sub. no. GDOU 94/2-5-2020 corresponding joint ministerial decision on the Procedure and conditions for granting aid with a Refundable Advance to businesses that have been financially affected due to the appearance and spread of the coronavirus disease COVID-19" (Government Gazette B' 1645).

The common ground of the arrangements provided for by the above joint ministerial decisions is that, the amount of the aid will not be charged with any interest (as it was already announced). The refundable amount it will eventually be repaid in 60 monthly installments instead of the 40 originally planned. At the same time it will be granted 15% discount, in case of a one-time refund of the refundable amount until ^December 31, 2021. It is also foreseen extension for the presentation by the interested parties of all the necessary supporting documents, until 31/12/2021.

Regarding the amount that will ultimately be returned and which is primarily of interest to the interested parties, the following are specifically provided for:

What amount is refundable in the Reimbursable Advance

A) For businesses that started operations before January 1, 2019, did not open a branch from April 1, 2019, to December 31, 2020 and have positive gross income in 2019

aa) Refund of only 25% of the aid, if the decrease in the company's 2020 sales of goods and services exceeds 70% compared to 2019 sales of goods and services and the company shows losses before taxes in 2020 and if the obligation of par. and the company shows losses before taxes in 2020 and if the obligation of par. In other words, the level of employment and the number of employees were maintained.

bb) Refund of only 33.3% of the aid, if the decrease in the company's 2020 revenue from sales of goods and services amounts to at least 30% and up to 70% in relation to revenue from sales of goods and services in 2019 and records losses before taxes in 2020 and if the obligation of par. 1 of the relevant article of each decision with the obligations of the beneficiaries. In other words, the level of employment and the number of employees were maintained.

cc) Refund of only 50% of the aid, for businesses that do not fall under sub-cases aa and bb and if the obligation of par. 1 of the relevant article of each decision with the obligations of the beneficiaries. In other words, the level of employment and the number of employees were maintained.

B) For businesses that started operations after January 1, 2019, or opened a branch from April 1, 2019 to December 31, 2020, or have zero gross revenue in 2019

aa) Refund of only 25% of the aid, if the decrease in the company's 2020 sales of goods and services exceeds 30% compared to 2019 sales of goods and services and the company shows losses before taxes in 2020 and if the obligation of par. 1 of the relevant article of each decision with the obligations of the beneficiaries. In other words, the level of employment and the number of employees were maintained.

bb) Refund of only 33.3% of the aid, for businesses that do not fall under the sub-approx. aa Refund of only 33.3% of the aid, for businesses that do not fall under the sub-approx. 1 of the relevant article of each decision with the obligations of the beneficiaries. In other words, the level of employment and the number of employees were maintained.

It is also provided that, for the calculation of the income of the tax year 2019, the year ending from 01/07/2019 to 30/06/2020 is taken into account.

Accordingly, in order to fulfill the conditions of cases a and b, it is provided that the amount of revenue from sales of goods and provision of services results from code 500 of the income tax return (E3) for the tax year 2019 and 2020, respectively. The control of the relevant conditions will be carried out automatically by AADE.

Reimbursable Advance - Businesses affected by the fires

Finally, there is a special provision for businesses that have been demonstrably affected by the fires that occurred in areas of Greek territory from May 1 to September 2, 2021, as these have been identified with the following items D.A.E.F.K.-K.E/13758/A325/20.8.2021, D.A.E.F.K.-K.E/13975/A325 /20.8.2021, D.A.E.F.K.-K.E./13665/A325/18.8.2021 and D.A.E.F.K.-K.E/11203/A325/09.07. 2021 decisions of the Ministers of Finance, Development and Investments, Interior, Infrastructure and Transport. In this case, it is foreseen that the entire refundable amount will not be refunded.

Finally, there is a special provision for businesses that have their headquarters or a branch in the Municipalities of Mantoudi – Limni – Agia Anna and Istiaea – Edipsos of the Evia Regional Unit of the Central Greece Region, which were affected by the fire of August 3, 2021. In this case, it is foreseen that the entire refundable amount will not be refunded.

As can be seen from the above joint ministerial decisions, the wish of the businesses affected by the coronavirus pandemic, for the non-return of all the refundable aid they received with the individual allowable advances, may not be fulfilled. But there are significant reductions in the amounts that will eventually be returned. Reductions linked to the proven reduction in business turnover due to the coronavirus pandemic.