New Development Law – Greece Strong Growth

Ο Αναπτυξιακός Νόμος 4887/2022 του Υπουργείου Ανάπτυξης και Επενδύσεων με τίτλο «Αναπτυξιακός Νόμος – Ελλάδα Ισχυρή Ανάπτυξη» ορίζει τις προϋποθέσεις υπαγωγής καθώς και το πλαίσιο σύστασης καθεστώτων για τη χορήγηση κρατικών ενισχύσεων. 

Σε αυτόν περιλαμβάνονται 13 νέα καθεστώτα ενισχύσεων και προβλέπονται 3 σταθεροί κύκλοι για την υποβολή επενδυτικών προτάσεων, ενώ στόχος είναι η παροχή πλήρους πλαισίου κινήτρων με βασικό γνώμονα τη δημιουργία επιχειρηματικών πρωτοβουλιών σε επιχειρήσεις που προτίθενται να πραγματοποιήσουν επένδυση σε κάποιον από τους επιλέξιμους κλάδους του. 

In an effort to speed up the procedures, additional arrangements will be made for evaluating, including the investments in aid schemes and monitoring the implementation, so as to ensure that implementation is accelerated through the assignment of the evaluation of the integration and monitoring of the implementation to a private certified auditor. 

The Project’s supervision will last until the completion of the Investment.

General Remarks

  • Reference is made to the provisions of the General block exemption Regulation (“G.B.E.R.”) of the European Commission (651/17.07.2014, L. 187/1/26.06.2014)
  • The new Law is structured into two sections: (a) the General Section, which includes the main regulations and restrictions of the G.B.E.R. and refers to all aid schemes, and (b) the Special Section, which describes the specific aid schemes, to which the provisions of the General Part and of the G.B.E.R. are applied.
  • Special categories of aid are being determined, either (a) on the basis of the performance of the companies (extroversion, mergers, employment increase, sectors, high added value), or (b) on territorial basis (highland, border areas and areas with increased migration burden, Industrial Areas, Innovations Zones). Companies that fall under the special categories may be reinforced through capital aids, in case the latter are not provided, or by additional capital aids, in case the latter are provided.

ΔΙΚΑΙΟΥΧΟΙ 

Επιλέξιμες είναι οι επιχειρήσεις που είναι εγκατεστημένες ή έχουν υποκατάστημα στην ελληνική επικράτεια κατά τη χρονική στιγμή έναρξης εργασιών του επενδυτικού σχεδίου και έχουν μία από τις ακόλουθες μορφές: 

Με βάση τα παραπάνω, παρακάτω είναι οι μορφές των επιλέξιμων Εταιρειών:

  • εμπορική εταιρεία,
  • συνεταιρισμός
  • Κοινωνικές Συνεταιριστικές Επιχειρήσεις (Κοιν.Σ.Επ.) N.4430/2016 (Ά 2015),
  • Αγροτικοί Συνεταιρισμοί, Ομάδες Παραγωγών, Αγροτικές Εταιρικές Συμπράξεις N. 4384/2016 (Α’ 78),
  • υπό ίδρυση ή υπό συγχώνευση εταιρείες, με την υποχρέωση να έχουν ολοκληρώσει τις διαδικασίες δημοσιότητας πριν από την έναρξη εργασιών του επενδυτικού σχεδίου,
  • επιχειρήσεις που λειτουργούν με τη μορφή κοινοπραξίας με την προϋπόθεση καταχώρησής τους στο ΓΕΜΗ,
  • δημόσιες και δημοτικές επιχειρήσεις και θυγατρικές τους υπό προϋποθέσεις

ΠΕΡΙΕΧΟΜΕΝΟ ΕΠΕΝΔΥΤΙΚΟΥ ΣΧΕΔΙΟΥ 

Investment plans and projects that fall under current aid schemes must be of an integrated initial investment nature according to Article 2, Point 49 of Commission’s (EU) General Exemption Regulation (GER) 651/2014 and in particular meet one of the following conditions

  1. Δημιουργία νέας μονάδας
  2. Επέκταση δυναμικότητας υφιστάμενης μονάδας
  3. Διαφοροποίηση της παραγωγής μιας μονάδας σε προϊόντα ή υπηρεσίες που δεν έχουν παραχθεί ποτέ σε αυτή
  4. Θεμελιώδης αλλαγή του συνόλου της παραγωγικής διαδικασίας

Εάν οι αποσβέσεις που σχετίζονται με την παραπάνω δραστηριότητα δεν αντικατοπτρίζονται με σαφήνεια στα υποβληθέντα οικονομικά στοιχεία, η σημαντική αυτή προϋπόθεση δεν πληρούται.

Terms and Prerequisites for Participation

Η οικονομική συμμετοχή κάθε Φορέα στο κόστος του επενδυτικού σχεδίου μπορεί να καλύπτεται είτε με ίδια κεφάλαια, είτε με εξωτερική χρηματοδότηση, με την προϋπόθεση ότι το είκοσι πέντε τοις εκατό (25%) του ενισχυόμενου κόστους αυτού δεν περιέχει καμία κρατική ενίσχυση, δημόσια στήριξη ή παροχή.

ΚΑΘΕΣΤΩΤΑ ΕΝΙΣΧΥΣΗΣ

The Investment Projects that are covered by the new Law relate to all economic sectors, apart from certain exceptions (i.e. steel, coal, synthetic fibers, shipbuilding, etc.).

The Law aims to promote the economic development of the country by providing incentives to specific activities and Priority Sectors, depicted below:

  1. Ψηφιακός και τεχνολογικός μετασχηματισμός επιχειρήσεων
  2. Πράσινη μετάβαση – Περιβαλλοντική αναβάθμιση επιχειρήσεων
  3. Νέο Επιχειρείν
  4. Ενίσχυση λιγότερο ευνοημένων περιοχών της χώρας και περιοχών που εντάσσονται στο Σχέδιο Δίκαιης Αναπτυξιακής Μετάβασης (ΣΔΑΜ)
  5. Έρευνα και εφαρμοσμένη καινοτομία
  6. Αγροδιατροφή – πρωτογενής παραγωγή και μεταποίηση γεωργικών προϊόντων – αλιεία
  7. Μεταποίηση – Εφοδιαστική αλυσίδα
  8. Επιχειρηματική εξωστρέφεια
  9. Ενίσχυση τουριστικών επενδύσεων
  10. Εναλλακτικές μορφές τουρισμού
  11. Μεγάλες Επενδύσεις
  12. Ευρωπαϊκές Αλυσίδες Αξίας
  13. Επιχειρηματικότητα 360οo

For the first time, the possibilities provided by the General Exemption Regulation 651/2014 are utilized and relate to the inclusion of investment plans independently, in its other parts besides the aid of regional character. With this initiative, aid in areas such as research and innovation, environmental protection and social – aid such as vocational training for disadvantaged or disabled workers can now be integrated investment plans.

Eligible Expenses

The Eligible Expenses are divided into:

  1. Eligible expenses of regional state aid nature based on the Regional State Aid Map (capital expenditure in tangible and intangible assets, employment cost of new employees) and 
  2. Eligible expenses of non regional state aid, which aim to broaden and enrich the investment options towards new qualitative directions.

The maximum amounts and percentages of regional state aids and non regional state aids are being determined in accordance with the provisions of the Special Section of the new Law.

ΕΙΔΗ ΕΝΙΣΧΥΣΕΩΝ

Παρέχονται τα ακόλουθα είδη βοήθειας:

  • Φορολογική Απαλλαγή
  • Επιχορήγηση 
  • Επιδότηση Χρηματοδοτικής Μίσθωσης
  • Φοροαπαλλαγή
  • Επιδότηση Κόστους δημιουργούμενης Απασχόλησης
  • Χρηματοδότηση επιχειρηματικού κινδύνου για το καθεστώς Νέο Επιχειρείν

The Types of Aid are granted following a relevant certification, either in lump sum (following the issuance of the decision certifying the completion and the commencement of the productive operation of the project) or gradually (according to the specific requirements per each type of aid granted). All types of Aids – with exception of the Employment Cost Funding – can be provided either separately or in combination thereof and are taken into account for the determination of the total aid amount for each investment project.

ΕΝΤΑΣΕΙΣ ΕΝΙΣΧΥΣΕΩΝ

The maximum Aid Rates for regional investments (maximum approved regional aids) are defined by the approved Regional Aid Map.

The Aid Rates are determined according to the size of the Investment Entity, the location of the Project’s implementation and the aid scheme under which the Investment Entity is requesting Aid. Companies are divided in Large, Medium and Small depending on their Size; thus, the allocation of the relevant subsidy and/or other reinforcements is foreseen accordingly by the Law, providing the highest percentages to “Small” entities. 

The beneficiaries, the eligible expenses, the type of aids, the percentage of aids, the implementation procedure, as well as the evaluation and audit process are being specifically prescribed per each separate scheme of aid. The new framework provides for increased aid rates for 12 of the country’s 13 Regions. It also includes a special provision that allows for fair transit areas a 10% increase on the percentages that would correspond to them if they were not fair transit areas.

Η ένταση της ενίσχυσης είναι το μέγιστο ποσό κρατικής ενίσχυσης που μπορεί να χορηγηθεί ανά δικαιούχο, και εκφράζεται ως ποσοστό των επιλέξιμων επενδυτικών δαπανών. 

Η αρμόδια Ευρωπαϊκή Επιτροπή εξέδωσε τις κατευθυντήριες γραμμές για τις κρατικές ενισχύσεις περιφερειακού χαρακτήρα τις οποίες χρησιμοποιεί για να αξιολογήσει τη συμβατότητα όλων των κοινοποιήσιμων περιφερειακών ενισχύσεων (ΚΓΠΕ) που θα χορηγηθούν. 

Το έδαφος της Ελλάδας αποτελείται από 13 περιφέρειες NUTS 2. Σύμφωνα με το παράρτημα I των ΚΓΠΕ, δώδεκα από τις εν λόγω περιφέρειες είναι επιλέξιμες για ενίσχυση βάσει του άρθρου 107 παράγραφος 3 στοιχείο α) της ΣΛΕΕ (περιοχές «α»). Οι περιφέρειες NUTS 2 που προτείνονται ως περιοχές «α», για ολόκληρη την περίοδο από την 1η Ιανουαρίου 2022 έως την 31η Δεκεμβρίου 2027, παρουσιάζονται στον πίνακα κατωτέρω. Ο πίνακας παρουσιάζει επίσης την προτεινόμενη μέγιστη ένταση ενίσχυσης για τις μεγάλες επιχειρήσεις για κάθε περιφέρεια.

Filing Applications and Evaluation Process

All procedural issues regarding the support and implementation of the new Law (filing of applications, documentation file, evaluation, etc.) will be carried out through the State Aid Information System of the Ministry of Finance, Development and Tourism.

The evaluation process includes the stage of completion and legality control and the evaluation stage and is carried out either through the method of comparative evaluation or through the method of direct evaluation.

Implementation and Completion of Investment Projects

Investment Projects which fall under the aid schemes are audited at any time and any stage of implementation of the Investment Project and while fulfilling their long term liabilities.
The beginning and completion of operations is certified with the issue of a relevant decision by the competent Institutions as they are defined in Article 17 of the Law.

The Investment Project is completed following the commencement of the productive operation of the investment within the period prescribed in the relevant ministerial decision, which may not exceed three (3) years from the date of issuance of that decision. An extension for two (2) years is also provided, under the following conditions:

  • Electronic Submission of the relevant request should take place before the end of the integration period, as it is initially defined in the qualification decision and
  • Implementation of 50% of the physical object and 65% of the financial object

For the validation of the beginning of operational function of the investment, documentation of the unit’s operations is required as well as with the creation of at least half of the new jobs defined the qualification decision. The rest of the job positions should be created by the end of the forecasted maintenance period of long-term liabilities.

Special Aid Categories

The Aid Rate is set at 80% of the Regional Aid Map. In order to receive an Aid Rate of 100% of the rate set in the Map, depending on the aid scheme, a company must realize an Investment Project that:

  1. Will be eligible for submission to the New Business scheme or the Fair Development Transition scheme and/or
  2. Will be established in a special region defined in a relevant annex of the Law (mountainous, island, border region, region affected by natural disasters) and/or
  3. Will be implemented in Industrial and Business Areas, Business Parks, Technology Parks and Innovative Activity Hosts and Organized Manufacturing and Business Activity Hosts, provided that they do not concern the modernization or extension of existing structures of the assisted firm and/or
  4. Will involve the reopening of industrial plants that have ceased to operate. The value of the fixed equipment of the industrial unit to be reopened covers at least fifty percent (50%) of the eligible costs of the Investment Project

Disbursements Flow

  1. Cash Subsidy
  2. An amount of up to 25% of the approved grant may be paid to the beneficiary by the execution of 25% of the total investment. The supporting documents are submitted with a certificate – declaration of their correctness by a certified public accountant. The decision of the administration is issued within 20 days from the submission of the relevant request.
  3. The remaining amount up to 50% or 65% of the approved grant can be paid to the beneficiary upon his request after the certification of the implementation of 50% or 65% of the total cost of the Investment Project by a competent body through on-the-spot or administrative control. The certification is carried out with the issuance of a relevant decision, by the competent bodies of par. 3 of article 17, within 30 days from the submission of the investment audit report or the date of submission of any additional data.
  4. The remaining amount of the grant or its whole in case of non-application of the above shall be paid further to the issue of the completion decision and commissioning of the Investment.

The amounts of the subsidy are not deducted from the value of the investment costs in order to determine the taxable profits.

Important Note: The subsidy is paid directly through electronic payment to a Bank Account of the Investment Project entity and may not be assigned to third parties. Exceptionally, it is possible to assign the claim to the amount of the grant to banking institutions in order for them to provide short-term loans of an equal amount of cash to that of the grant, used for the Investment Project. 

  1. Leasing Subsidy

The payment of the leasing subsidy may take place after the certification by the relevant monitor installation at the unit of all the leased equipment, according to the leasing contract.

The subsidy is paid every six months and after each payment of the rent installments on behalf of the investor. The amount payable is calculated on the equipment acquisition value, which is included in the paid installments in accordance with the approved aid rates and with the limitation of not exceeding the payment of sixty percent (60%) of the approved amount until the decision of completion and the beginning of productive operations of the investment project.

In advance payoff by the investment entity is possible, only for the last twelve (12) months of the lease contract, as approved by the relevant department.

The amounts of the leasing subsidy are not deducted from the value of the investment costs in order to determine the taxable profits.

III. Tax Relief – Exemption

The right to begin using the utility incentive of tax exemption is based on the certification of implementation of 50% or 65% of the cost of the project by the competent control body. The entity can utilize the whole of the entitled aid of tax exemption within fifteen (15) fiscal years from the fiscal year of entitlement of the benefit of use under specific conditions that apply accumulatively.

The yearly spent amount of the tax exemption appears in a specific reserve and a corresponding account in the Company’s books, formed from income tax which was not paid because of the provided tax exemption.

  1. Subsidy of Employment Cost

The starting point of the subsidy of employment cost can take place after the certification by the competent inspection body of the creation of associated with the investment project jobs.

The subsidy is paid every six months and after each payment of wage costs on the part of the investor, with the limitation of not exceeding the payment of sixty percent (60%) of the approved amount until the issue of the completion decision and the beginning of productive operation of the investment.