Munich – Munich – The Chamber of Industry and Commerce for Munich and Upper Bavaria reminds all companies in Bavaria that have received federal Corona economic aid during the Corona pandemic to submit the mandatory final accounting: Applicants who have requested an extension must submit the final accounting by September 30, 2024 via their third-party auditor (usually a tax advisor or auditor)..
This deadline only applies if an extension was requested in advance. Anyone who did not request an extension had to submit their final accounts already. Two thirds have already submitted the corresponding final accounts as scheduled. In the Free State, the Chamber of Industry and Commerce for Munich and Upper Bavaria is responsible for processing economic aid on behalf of the Bavarian State Government.
The deadline of September 30th applies to all applications for bridging aid I to IV as well as for applications for December and November aid. No final statement needs to be submitted for direct applications for November and December aid (submitted by entrepreneurs themselves and not via a third-party auditor) as well as for Bavarian hardship and October aid.
For grants under the restart aid, a separate final settlement was required, for which the deadlines have already expired. The Chamber of Commerce and Industry expressly points out that anyone who does not submit a final settlement by the deadline must repay 100 percent of the grant amount, including interest since payment, in accordance with the federal government’s funding guidelines. As the responsible approval authority in the Free State, the Chamber of Commerce and Industry for Munich and Upper Bavaria has pointed out since the start of the aid programs in July 2020 that the federal government had set them up as a two-stage process: In the first stage, applications were usually submitted on the basis of forecast sales figures and the corresponding aid was paid out. In the second stage, the final settlement that must now be submitted, applicants must present their actual drop in sales. Depending on the actual development, there may be additional payments, confirmation of the grant amount paid out or repayments.
For further information visit www.ihk-muenchen.de/de/Service/wirtschaftshilfen-corona/.
(Source: Press release IHK for Munich and Upper Bavaria / Article image: symbol photo right)
