{"id":9335,"date":"2023-02-23T13:48:01","date_gmt":"2023-02-23T13:48:01","guid":{"rendered":"https:\/\/dev-espa.summerize.io\/repayable-advance-new-extension-for-repayment\/"},"modified":"2023-08-01T09:04:47","modified_gmt":"2023-08-01T09:04:47","slug":"repayable-advance-new-extension-for-repayment","status":"publish","type":"post","link":"https:\/\/espa.io\/en\/repayable-advance-new-extension-for-repayment\/","title":{"rendered":"Repayable advance: new extension for repayment"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/espa.io\/wp-content\/uploads\/2023\/06\/epistreptea-prokatavoli-nea-paratasi-gia-tin-apopliromi-1024x575.jpg\" alt=\"\"\/><\/figure>\n\n<p>In a <strong>new extension of the deadline<\/strong> for <strong>repayment<\/strong> <strong>of<\/strong> the <strong>refundable advance<\/strong>, the <strong>\n  <a href=\"https:\/\/www.minfin.gr\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Ministry of Finance<\/a>\n<\/strong>.<\/p>\n\n<p>As the ministry says, <strong>following a series of institutional interventions<\/strong> by the government and the  <strong>Ministry of Finance<\/strong> for the support, through the  <strong>seven cycles<\/strong> for the refundable advance, <strong>\n  <a href=\"https:\/\/espa.io\/category_of_beneficiary\/epixiriseis-epidotisi\/\" target=\"_blank\" rel=\"noreferrer noopener\">enterprises affected<\/a>\n<\/strong> by the  <strong>economic<\/strong> <strong>impact<\/strong> of <strong>Covid-19<\/strong>, in December 2022, a Joint Ministerial Decision was issued to address technical issues and, among other things, <strong>a new opportunity was given to complete the supporting documents<\/strong>, after the <strong>issuance<\/strong> of <strong>certificates<\/strong> of <strong>undue<\/strong> <strong>paym<\/strong><strong>ents<\/strong> for the refundable advance, which <strong>took place<\/strong> on <strong>02\/11\/2022<\/strong>.<\/p>\n\n<p>In addition, a <strong>recalculation<\/strong> was carried out on the certificates of undue payments due to <strong>non-compliance with the mandatory retention of employees<\/strong>. This resulted in a <strong>reduction<\/strong> of <strong>approximately 42%<\/strong> of the <strong>amounts originally certified.<\/strong><\/p>\n\n<h2 class=\"wp-block-heading\" id=\"h-&#x3B7;-&#x3B1;&#x3C0;&#x3CC;&#x3C6;&#x3B1;&#x3C3;&#x3B7;-&#x3B3;&#x3B9;&#x3B1;-&#x3C4;&#x3B7;&#x3BD;-&#x3B5;&#x3C0;&#x3B9;&#x3C3;&#x3C4;&#x3C1;&#x3B5;&#x3C0;&#x3C4;&#x3AD;&#x3B1;-&#x3C0;&#x3C1;&#x3BF;&#x3BA;&#x3B1;&#x3C4;&#x3B1;&#x3B2;&#x3BF;&#x3BB;&#x3AE;\"><strong>The decision on the repayable advance<\/strong><\/h2>\n\n<p>Thus, a new Joint Ministerial Decision was also launched, which will provide that:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>The deadline for submitting supporting documents to the &#8220;<a href=\"https:\/\/www.aade.gr\/mybusinesssupport\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">myBusinessSupport<\/a>&#8221; electronic platform of the Independent Public Revenue Authority is extended until 31\/05\/2023 for those businesses &#8211; beneficiaries who have not yet fully submitted the required supporting documents for receiving aid through the Reimbursable Advance; and<\/strong><\/li>\n\n\n\n<li><strong>The payment of undue payments is extended until 30\/06\/2023.<\/strong><\/li>\n<\/ul>\n\n<h2 class=\"wp-block-heading\"><strong>Control of objections<\/strong><\/h2>\n\n<p>At the same time, <strong>thousands<\/strong> of <strong>applications<\/strong> and <strong>objections<\/strong> from businesses and professionals affected by the pandemic are under the microscope of the Ministry of Finance&#8217;s auditors. But they were <strong>&#8220;cut off&#8221; from the aid<\/strong> granted through the seven cycles of repayable advances.<\/p>\n\n<p>The <strong>General Directorate of Financial Services<\/strong> is expected to have <strong>completed<\/strong> its <strong>review<\/strong> of the applications by <strong>February 28, 2023<\/strong>.<\/p>\n\n<p>Completion of the reviews will give the <strong>green light<\/strong> for the <strong>payment<\/strong> of <strong>government<\/strong> <strong>loans<\/strong> to eligible <strong>businesses<\/strong> and <strong>professionals<\/strong>. <strong>Those<\/strong> who receive the state aid will be required to <strong>repay<\/strong> the <strong>refundable<\/strong> advance in <strong>96 interest-free<\/strong> instalments. The start will be from <strong>June 2023<\/strong> and the <strong>amounts<\/strong> will be <strong>&#8220;trimmed&#8221; up to 75%.<\/strong><\/p>\n\n<p>It should be noted that the current framework provides <strong>that if<\/strong> <strong>the review<\/strong> reveals the <strong>merits<\/strong> of the request, the <strong>file<\/strong> is <strong>sent<\/strong> by the relevant tax authority to the Hellenic Tax Administration for <strong>review<\/strong>.<\/p>\n\n<p>Then, the <strong><a href=\"https:\/\/www.aade.gr\/\" target=\"_blank\" rel=\"noreferrer noopener\">Hellenic Tax Administration<\/a><\/strong> re-performs an <strong>automated<\/strong> <strong>check<\/strong> of the conditions. It takes into account <strong>only<\/strong> the <strong>data<\/strong> <strong>declared<\/strong> by the <strong>company<\/strong> to the tax administration. There is always the <strong>reservation<\/strong> of the <strong>provisions<\/strong> of these <strong>decisions<\/strong> to carry out <strong>cross-checks<\/strong> and tax audits.<\/p>\n\n<p>If the automated check reveals that <strong>the company is entitled to the aid<\/strong>, the Directorate-General for Tax Administration and Tax Administration <strong>creates<\/strong> an <strong>aggregated<\/strong> and <strong>detailed<\/strong> <strong>list<\/strong> of the beneficiaries and the amount to which they are entitled. <strong>The aid is paid by the tax authority of the Ministry of Finance.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a new extension of the deadline for repayment of the refundable advance, the Ministry of Finance . As the ministry says, following a series of institutional interventions by the government and the Ministry of Finance for the support, through the seven cycles for the refundable advance, enterprises affected by the economic impact of Covid-19, 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