The Ministry of Finance submitted an addendum to the bill on state aid to businesses and non-profit organizations for disasters earmarking a supplementary budget with the increase of Exemption of farmers from the vocational practice fee, extraordinary aid of 500 – 4,000 euros to affected companies by 3 billion euros “in order to finance actions related to the implementation of measures to address the negative consequences of the coronavirus”.
The bill submitted to Parliament on Monday night also provides:
1. The exemption from the obligation to pay the service fee for the fiscal year 2020 (valid for fiscal year 2019), for registered professional farmer, for whom the first five years have passed since the date they began keeping books and their inclusion in the normal VAT regime as well as coastal fishermen, operating fishing vessels of up to 12 meters length.
2. The granting of aid (500 – 4,000 euros), as a support measure in the form of “increased special purpose compensation”, to companies that were financially affected due to the appearance and spread of the coronavirus. The aid is tax-free, inalienable and not applicable for confiscation by the State or third parties, by way of derogation from the provisions, is not subject to any fee, contribution or other deduction in favor of the State, including the special solidarity contribution, is not bound and is not offset to accrued debt.
3. The possibility of compliance of the issuers with the obligation to prepare the annual financial reports in a single electronic format is postponed from 1-1-2021.
4. The period of suspension of the obligation to pay to the Greek State a percentage of 5% of the hospitalizations received by all private Chronic Dialysis Units and is set until 31 -12-2021. The VAT rate of 6%, for the necessary items (eg dialysis filters, hemofiltration, hemofiltration filters) is extended to 31-12-2021 (expires on 30-6-2021).
5. The pension thresholds of social security fund IKA and the State, as they had been formed before the entry into force of law 4387/2016 (12-5-2016), continue to apply both for the awarding of pensions and for the adjudication of the pension rights of the members of families of the fighters of the National Resistance, retired farmers and Writers – Artists, respectively. At the same time, a special exemption is introduced, so that the beneficiaries receive their pension retroactively, from the date of initiation of their pension rights.
6. The institutional framework and the procedure for granting state aid [subsidy from the Public Investment Program (PIP)) to companies and non-profit organizations affected by natural disasters are also redefined.
Latest News
Re-opening of GGB 3.875% Auction Oversubscribed by 3.62 Times
The Greek state on Wednesday proceeded with a re-opening of a 3.875% government bond issue – with the latter debt due to mature in March 2029.
Airport Passenger Traffic Up 11.4% in the 1st Half of 2024
The airports welcoming the most tourists this month are Athens International Airport, followed by Heraklion, Rhodes, Corfu, Thessaloniki, Kos, Chania, Zakynthos, Santorini, and Mykonos.
Greece’s Labor Market Trends; Job Vacancies Surge
According to the latest data job openings soared to a record high of 70,826 positions in the first quarter of 2024, marking a remarkable 115.6% annual increase.
Eurostat: Inflation in Greece and Euro area at 2.5% in June
Final figures on inflation for Greece came in slightly worse than the preliminary figure of 2.4%, released by ELSTAT at the start of July
Greece Acts to Protect Consumers amid Soaring Electricity Prices
Skylakakis outlined the government's initiatives but withheld specifics regarding the emergency tax and bill subsidies, which are slated for finalization by late July.
Cruise Industry Opposes New EU Plan for Piraeus Port
According to the Plan, cruise ship passengers will be transported by shuttle boats from Piraeus port to the Peace and Friendship Stadium (SEF), so that they can then travel to Athens
Greek State to Reopen 3.875% Bond on Wed.
Bond of 3.875% is set to mature on March 12, 2029
Critical Week for Greece-Cyprus Cable
The study concluded that the social benefits of the interconnection, totaling 8 billion euros, far outweigh its 1.9 billion euros construction cost, resulting in a net social benefit exceeding 6 billion euros.
Roberta Metsola Re-elected President of European Parliament
Her second term will be for a period of two and a half years
ELSTAT: 1.5% Increase in Business Turnover in May 2024
The most significant increase in turnover in May 2024 compared with May 2023 was recorded from the enterprises of the Accommodation and Food Service Activities, sector which grew by 14.8%.