MUNICH Companies can only submit the final accounts for the Corona economic aid until September 30th. As of September 1st, 2024, only around 65 percent had been submitted. Companies that have received one of the economic aids but do not submit a final account must repay the amount received in full in accordance with federal requirements.
Bavaria’s Minister of Economic Affairs Hubert Aiwanger is therefore calling on all those who are still missing to submit their applications: “I urgently appeal to companies to use the extended deadline now and submit a final statement of accounts. It would be fatal if companies had to pay back economic aid because they did not meet the formal criteria to which we are unfortunately bound. Submit the final statement of accounts with your third-party auditors in the remaining days up to the deadline on September 30th. Those who do not act now risk missing the deadline and losing money.”
State Minister Aiwanger was early and successful in supporting the tax advisors’ demand to extend the deadline. In March 2024, the federal and state governments agreed on a further, final extension until September 30, 2024. In addition, the process was simplified. For example, in the accelerated procedure, cases with smaller application amounts are decided without further queries.
Aiwanger thanked the Bavarian tax consultants’ chambers for their valuable contributions and cooperation with the Munich Chamber of Industry and Commerce, the central approval authority for Corona economic aid in Bavaria. The Chamber of Industry and Commerce regularly provides information on the final settlement and the audit process.
Background:
In Bavaria, more than 11 billion euros in Corona economic aid was paid out to over 440,000 applicants (bridging, November and December aid). The federal government provided the funds, the states handle the processing and bear the costs. In order to ensure that the funds could be paid out to the applicants quickly, most of the grants were provisionally approved on a forecast basis. From the outset, a subsequent comparison of the forecast figures with the actual sales development and the fixed costs incurred was planned, which was also communicated to all applicants. The final settlement is therefore necessary in order to make a comparison between the grants originally applied for on the basis of forecast values and the aid finally calculated and justified on the basis of the developments that actually occurred. Depending on the program, this can lead to a confirmation of the funds received or to a subsequent or repayment.
Contact person:
Jürgen Marks
Head of Press Department
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