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New action of 350 million euros, to provide working capital to tourism companies.

  • JUNE 1, 2021


A new action, with a budget of 350 million euros, for the provision of working capital to tourism companies in order to subsidize operating expenses for the first 2-3 months of restarting their operation, is implemented by the Ministry of Development & Investment. The action is financed through the Operational Program "Competitiveness-Entrepreneurship-Innovation" (EPANEK) of the NSRF 2021 - 2027 and concerns small and medium (300 million euros) and large (50 million euros) companies: -Hotels, lodgings, rooms to let -Tourist offices / agencies -Tourist bus companies.

Franchise companies are also included, provided that certain regulatory criteria of the NSRF are met. The amount of aid amounts to 5% for accommodation and 2.5% for other companies on the turnover of the main KAD or KAD with the highest revenues of 2019. For companies set up in 2019 or 2020 the amount of aid is defined as follows: [(turnover 2019 or 2020) / number

The standard reverse opening at 400,000 euros per VAT. The books for joining the process are: A) Legal appearance. B) Substantial introduction to disputes (main KAD or KAD with volatile money). C) Reduction of turnover 2020 in questions with 2019 from or to 30%. D) Personnel approach 2019 difference with 1 Annual Work Unit (EMU) salaried work. E) Annoyances I sign the VAT declarations (territorial VAT Scheme).

Please note that: * For companies established in 2019, an equal number of operating days in 2020 is calculated for the drop in turnover. * Companies established in 2020 with non-zero turnover are automatically included in the action. D) Businesses. which were under construction in 2019 and started to have revenue in 2020 are treated as established within 2020. Applications will be submitted to the State Aid Information System (PSE) of the Ministry of Development and Investment at The start of applications is placed in June and applications can be submitted until September 30, 2021

The evaluation will be immediate and the disbursement of the grant will take place immediately after the approval and joining the action, without the need to submit a new application.

The companies involved in the action are obliged to: -To spend the grant until 31-12-2021. The audit will be based on the declared expenses in the periodic VAT returns (Fields 361, 363, 364, 365). -To employ their staff in 2021 at least by 0.5 Annual Work Unit (EMU) of salaried work. The control will be done based on data of the ERGANI Information System.

It is pointed out that A) The amount of aid to be granted by the action should not exceed 70% of the sum of the amounts of Codes 361, 363, 364 and 365 of the form of periodic VAT returns for the period 1/4/2021 - 31/12 / 2021. B) The sum of the amount of public funding from this action and the amount of public funding in the context of business support actions affected by the COVID-19 pandemic of the NSRF Regional Operational Programs throughout Greece, may not exceed 100 % of the sum of the amounts listed in Code 367 of the form of periodic VAT returns for the year 2021.

In the event that either (A) or / or (B) applies then the excess amount of public funding of the last grant granted is charged as unduly paid and reimbursed by the recipient of the aid.


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