About 4 million euros credited to property owners under the rent reduction program

Payment of a total amount of EUR 3,962,165.22 to 884 property owners (single register, μοναδιαίους Α.Φ.Μ.) was held on May 20 by the Ministry of Finance.

Rent reduction payments are made for the period from November 2020 to July 2021.

Funds are credited to bank accounts:

• 787 property owners (individuals) for a total amount of EUR 2,160,479.44.
• 97 property owners (legal entities) for a total amount of EUR 1,801,685.78.

Thus, for the period March 2020-July 2021, tax and payment offsets were made for the reduced rent in the total amount of EUR 824.5 million. The beneficiaries will see the money in their accounts before the evening, depending on the credit flows of each bank.

Recall that by the end of February, the Independent State Revenue Authority planned to close all outstanding issues with reduced rents and payment of compensation to owners who, having the right to it, did not receive money.

According to the Minister of Finance Mr. Christos Staikouras, compensation is paid to owners who sublet their property and received rent during the quarantine period.

The relevant AADE platform for filing original and amended COVID declarations has been closed and AADE has proceeded to liquidate them, as well as amending Property Lease Reports for the period November 2020 to July 2021. Applications were submitted by landlords and sub-landlords, who have been waiting for a refund for more than a year, writes m.naftemporiki.gr.

In accordance with the law and relevant explanatory circulars the beneficiary of the rent reduction or exemption is the third (and last) lessor of the property if it is included in the affected CAD.

The second in line, the landlord, may be compensated if he was also an injured professional. The first in the ranking, that is, the owner of the property, is entitled to all rent or compensation.

That is, the state pays a one-time refund for each leased/subleased property, with the subtenant being the main beneficiary, who, in turn, is obliged to pay the full rent to the owner. When the landlord is not entitled to compensation, then and only then is the owner-landlord the beneficiary of the compensation.

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