Thousands of enterprises that have received are waiting refundable contribution during the sanitary crisis, as the tax administration has not yet issued them clearing house to pay the amounts due. And the reason why his services AADE did not start issuing a note, lies in the fact that in thousands of cases errors and omissions were identified that were not corrected even by the new decree of the Ministry of Finance, issued at the end of November 2022.

We recall that the decision of November Ministry of Finance amended the terms of the retention commitment program to help businesses avoid losing government loans.

However, this did not appear to be enough as further issues were recorded and brought to the attention of the MOF management to either provide a solution or not, and therefore the tax administration continues to claim the full amount from those who do not comply with the conditions of the program within next five days.

In particular, unless the financial staff issues a new positive decision, AADE will have until January 31 to ask thousands of businesses to return the full amount they received from one or more refundable advance payment cycles. The amount must be returned once and with interest.

In the meantime, in addition to the above enterprises, the tax administration checks the supporting documents sent by the enterprises (they had a debt before December 31, 2022) for their correctness. Immediately after and before January 31, a liquidation note will be issued to the personal account of each entrepreneur and specialist, so that the payment of the repayable part of the state loan can begin.

However, tax administration services are also reviewing thousands of business applications that, while affected by the health crisis, have remained without refundable advances despite having applied for all seven aid cycles. In this regard, the General Directorate of Financial Services is invited to review applications until February 28, 2023.

Upon completion of the reviews and if there are cases that have been unfairly excluded from the program, an order will be given to credit the appropriate amounts to those who are entitled to their accounts. Those of them who receive state aid will be asked to repay their repayable advances in 96 interest-free installments from June 2023, and the repaid amounts will be “cut” to 75%, as is the case with other enterprises that received a state loan.