Terms, conditions and restrictions concerning the provision of aids
(d) The concurrence of prerequisites under (b) and (c) above shall
be certified by relevant approval of the Athens or Thessaloniki
Organisations within their ju-risdiction, or of the Regional Authorities
of the Ministry of Environment, Physical Planning and Public Works,
with respect to other areas of Greece. Such approval as well as
the relevant licence issued by the Ministry of Transport and Communications
must accompany applications seeking eligibility for investment grants
herein concerning the establishment of such car park.
25. Terms, conditions and restrictions on the appli-cation of aids
herein to investments and/or equipment leasing programs of undertakings
producing electricity from mild forms of energy, or undertakings
for the co-production of electricity and heat, under instance (b)
of para. 1, article 3. Additionally, terms, conditions and restrictions
on the application of aids to investments and/or equipment leasing
programs of mining under-takings and undertakings quarrying, treating
and, in general, utilising industrial minerals under instances (g)
and (h) of para. 1, article 3.
a. Applications seeking eligibility for aided invest-ments and/or
equipment leasing programs concerning electricity production or
co-production of electricity and heat must be accompanied by the
relevant li-cence of establishment approved by the Ministry of Development,
pursuant to the legislation in force.
b. For investments and equipment leasing programs of mining undertakings
and undertakings quarrying, treating and, in general, utilising
industrial minerals under instances (g) and (h) of para. 1, article
3, the General Secretariat for Energy of the Ministry of De-velopment
shall issue its opinion on the validity of ownership rights, royalties
and operational licence within a (1) month from the dispatch of
the investment and/or program file.
26. Terms, conditions and restrictions on the appli-cation of aids
herein to investments and/or equipment leasing programs concerning
the relocation of manu-facturing or farming, livestock or fishery
undertakings under instances (a) and (i) of para. 1, article 3,
In order for the application of the grant and interest subsidy or
leasing subsidy, the validity of the estab-lishment and operation
licence of the relocated under-taking shall expire irrevocably upon
issue of the deci-sion on the completion of the investment and/or
equipment leasing program; no identical or similar li-cence may
be issued for the abandoned location, as certified by a relevant
document of the Ministry of De-velopment or Ministry of Agriculture,
accordingly. In order for the tax allowance and/or interest subsidy
to be applicable, such document has to be produced to the competent
Public Revenue Department and Dis-bursement Service, before the
tax-free reserve starts to be formed or the interest subsidy to
27. Terms, conditions and restrictions on the appli-cation of tax
allowance to investments and/or equip-ment leasing programs.
(a) The tax-free reserve of the allowance shall be computed on the
net profits, declared in the duly sub-mitted income tax return,
as they ensue from the books kept and appear in the balance sheet,
resulting from the organisation's activities, whether they come
under this law or not and regardless of the area where they are
undertaken, after deducting amounts for the formation of the ordinary
reserve and profits of the fi-nancial year distributed or withdrawn
by the partners or the businessperson. For undertakings keeping
books under Category B of the Code of Taxation Documents, tax allowance
shall apply to the net prof-its declared in the initial tax return,
after deduction of withdrawals.
(b) It shall be established by the profits of the ac-counting period
during which the investment or the equipment leasing shall be made.
In case of an appli-cation seeking eligibility of the investment
for tax al-lowance and interest subsidy under para. 24 of article
8, the tax-free reserve shall also be formed by the profits of the
accounting period during which the in-vestment shall be effected,
provided that the relevant ascertaining eligibility act under instance
(b) of para. 24, article 8, has been issued. If insufficient or
no prof-its are earned in such accounting year, the tax-free reserve
shall be formed by the profits of the subse-quent accounting periods
-no more than ten- until the percentage on the value of the aided
investment and/or leased equipment is covered.
(c) Especially in the case of investments and/or equipment leasing
programs the implementation of which shall last longer than one
accounting period, the tax-free reserve may be formed by the profits
of every accounting period, for the amount of investment ex-penses
incurred gradually every year and/or the leas-ing payments of the
equipment leased yearly, pro-vided that the investment and/or program
shall be completed in five years after their commencement.
(d) The tax-free reserve shall appear under separate accounts in
the account books of the undertaking.