Refundable Advance Payment 5: New businesses will also participate – When is it paid?

By the end of January 2021, the following will be paid: businesses the amounts that are entitled to from Refundable Deposit 5. In fact, according to the deputy Minister of Finance Theodoros Skylakakis, η Refundable Deposit 5 will also be given to new businesses.

«The top four circles of the measure of Refundable Advance Payment totaling €5.5 billion, and the measure of Refundable Advance Payment 5 with the money being paid to the beneficiaries until the end of January 2021. The process is quick, easy, and entirely digital via the “myBusinessSupport” platform. The data is verified by the AADE and the credits of the accounts of businesses are done electronically without any delay,» Mr. Skylakakis replied to a topical question he was asked about the measure.

At the same time, Deputy Minister of Finance Skylakakis clarified that «the most equitable measure was deemed to be the decline in the company's turnover, and in fact, companies that were operating until the third quarter of 2020 were already included as potential beneficiaries in the Refundable Advance Payment 4.’.

«To the extent that Refundable Advance Payment 5 will be entitled to participate and new businesses who did commencement of work up to and including third quarter of 2020 and the basis for calculating the reduction in turnover will be taken as fall at least by 20% of four-month turnover September-December 2020 and the subsidies will be paid by the end of January 2021,» Mr. Skylakakis emphasized.