On Monday 9th of August 2010, the draft bill of the face-lifted investments law in Greece is open for public consultation. The long awaited draft bill, although is following the same philosophy of the previous N.3299/2004 law, is claiming to be open to any kind of investment activity. The only exceptions are enforced by the EU guidelines for state aid and the regional guidelines for Greece, as well as a list of activity codes stated in the draft law. In short, the new investments law offers a series of state aid tools for private organization willing to invest in Greece, with subsidies ranging from 15% (large companies investing in high GDP areas) to 50% (small companies investing in low GDP areas). The subsidization is related to CAPEX and can be:
- Direct subsidization
- Leasing subsidization
- Investment Loan interest subsidization
- Payroll subsidization
- Tax exception
The draft bill is open for public consultation till the 23rd of August.