Enterprise Subsidy Platform Opens Until May 31st

The platform on which companies can apply to participate in the government subsidy program for their fixed costs will open on Friday or Monday at the latest.

The budget for the program is € 500 million and support will be provided in the form of a loan to offset tax and social security contributions. A prerequisite for this is that they filed their tax returns so that the Independent Revenue Authority can calculate the businesses’ expenditures in the last year, while the respective recipients will have to retain the staff they are currently hiring for at least until Dec. 31.

“Our goal is to help citizens not accumulate taxes and social security obligations,” Finance Minister Christos Staikuras said Thursday.

For companies to be eligible for the subsidy, they must belong to sectors affected by the pandemic, have at least one full-time employee, file all value added tax returns and E3 tax forms for the 2020 period, and show a pre-tax loss of at least 30% of revenue compared to 2019.

As we previously reported, on May 27, the TAXISnet platform was launched for filing tax returns for 2021.

New codes and a number of changes will be introduced in this year’s tax returns, since there will be a special code for money received as a special compensation in the amount of 534 euros, as well as for property owners who have been reimbursed by the state rent (not received during the quarantine period).

The new E3 form has new codes and a special table for compensations received last year by hundreds of thousands of companies and freelancers due to the pandemic. In the tables, taxpayers will indicate all amounts received from support measures, as well as the amount of the advance refunded.

In particular, professionals should indicate: special compensation, assistance provided to victims of cyclone IANOS, compensation for rental of tourist accommodation, assistance in the context of combating the consequences of COVID 19, subsidies for the supply of heating, etc.

The platform will be open for filing tax returns until August 27th. However, those who decide to apply at the last moment should be aware that by the end of August they will have to pay together the first and second installments of eight. In contrast, those who file their tax return before the end of July will pay tax in 8 installments until February. But if you pay the entire amount at once, a 3% discount on the total amount is provided.

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