The finance ministry gave recipients of cheap government loans made during the pandemic (known as a “return deposit”) the option to pay their contributions up to 60 monthly installments without paying interest. These are some 700,000 companies which have received a total of 8.3 billion euros.
The ministerial decree issued therefore waived the 0.94% interest that the law had initially provided for.
This is the government’s fifth intervention in the repayable funds program issued during closures, providing additional support to businesses and independent professionals who must return around € 3 billion to the state.
It started with reducing the share of loans that had to be repaid to the state: From the fourth to the seventh phase, the repayable amount was reduced to 50%. In the process, the number of installments increased from 40 to 60, while Prime Minister Kyriakos Mitsotakis added two other interventions in September: the reduction to 25% of the repayable part of loans under certain conditions, and the remission additional 15% for those who pay their contributions in a lump sum before December 31, 2021.
The new intervention has now paved the way for the Independent Revenue Authority to upload the precise amount that every business and professional must return – which is expected by the end of this month. The amount owed will appear on the IAPR website (www.aade.gr), under the Arrangement and Payment Debt Data entry.
The repayable amount of each state loan in the program must be repaid in a maximum of 60 monthly installments, the first being due by the end of January 2022. The amount to be repaid varies between 25% and 50%, depending on the decrease. of turnover that beneficiaries have suffered as a result of the measures aimed at curbing the pandemic. However, companies that are proven to have suffered from the fires in Greece between May 1 and September 2 of this year will not have to reimburse anything.