Support measures for catering establishments
ATHENS. The Development & Investment Ministry has set a budget of €330m to fund working capital for catering businesses to purchase primary products for the first 2 - 3 months of the restart of operations.
The funding will be 7% of the turnover for the Internal Revenue Service main business activity code (KAD) for the catering sector or the KAD with the greatest income in 2019.
The maximum amount of funding will be €100,000 per AFM.
To be included in the funding programme the following criteria apply:
1. A decrease in turnover greater than 30% in 2020 compared to 2019.
2. For businesses established in 2019 the decrease is calculated according to the number of working days.
3. Businesses established in 2020 are automatically included.
4. Businesses that began setting up in 2019 but started to have income in 2020 are treated as if they were established in 2020.
5. Businesses that are obliged to submit regular VAT declarations.
Applications should be submitted on the site www.ependyseis.gr. The starting date for applications depends on approval from the EU and the closing date will 31 July in order to include seasonal businesses.
Assessment will be immediate and funding will be released following approval. Businesses are obliged to use the funds by 31 December.