29.03.2021

CLOSED BUSINESSES CAN NOW APPLY FOR STATE AID

Economic sectors that have been closed due to current restrictions could apply for state aid this week. This was announced by the Minister of Economy Lachezar Borisov:

"At the same time, while the companies are applying, we will expect the notification from the EC, because without notification of the specific state aid we cannot proceed with its implementation."

Minister Borisov said that most of the businesses will be supported by 20%, and the rest - by 10% of the lost turnover.

The support is through the National Revenue Agency.

For its part, the NRA announced important news for the companies that received support in the COVID crisis. All approved applicants for working capital support, affected by the temporary anti-epidemic measures, are required to submit a report on the funds used, warned the National Revenue Agency (NRA).

This will be done through the module "Communication with the MA" of the Information System for Management and Monitoring of EU Funds in Bulgaria (UMIS 2020). The term in which the applicants can use the received support (to make the eligible costs) is 3 months from the date of granting the grant. Within one month after this deadline, companies must report on the funds used.

An important clarification is that if there is no report, companies will have to repay the funds.

What is special about the applicants who participated in both Phase 1 and Phase 2 is that they have to submit a joint report, as the duration of each application for support is 3 months from the date of the grant, but the reporting period in this case is 1 month after the deadline for spending the funds received for support from phase 2. The applicants who will participate in the current third phase of the project will submit their reports for it separately.

More information about the program can be found in the section "Support through working capital for SMEs" on the website of the NRA or on the phone of the Information Center of the NRA on 0700 18 700.