The financial staff is working on the latest details of the incentives to be offered in order to enhance extroversion and boost the growth of Greek businesses through mergers.
The relevant bill is likely to be included in the agenda of the cabinet meeting before the end of the month.
The main goal is to create larger and more dynamic companies that can be competitive at an international level, while offering more and better jobs. In addition, they will be more attractive to investments which implies an inflow of capital into the country, but also an inflow of know-how from abroad.
Among the regulations included in this bill are:
* Extension of the current framework for the absorption of small companies from larger ones, as the existing regime focuses only on small and medium-sized enterprises.
* Full incorporation into national law of the EU Directive 2009/133 concerning the common tax regime applicable to mergers, divisions, partial divisions, asset contributions and share exchanges involving companies from different member states. Among other things, cross-border mergers of companies will be regulated.
* The provision of incentives for the financing of businesses that are in the development stage, having overcome the first stage of creation. The role of the NSRF programs and the Development Bank will be decisive.
* Tax incentives for innovation-related activities. Among other things, it foresees the increase of the investment limit from 300,000 to 900,000 euros, for which the 50% deduction from taxable income applies when they are made by angel investors and anyone who invests in a Greek startup, based on the Elevate Greece registry.
* Tax incentives and other forms of support for small and medium-sized enterprises that will enter the Alternative Market of the Athens Stock Exchange. These will also include a reduction in the cost of listing on the stock market. Strong incentives will also be provided for investors who will participate in the public offerings during the listing on the Alternative Market.
* Reduction of the cost of listing through the easing of the current strict conditions that require the publication of a prospectus for all companies listed on the Alternative Market.
In general, the provisions will provide for the simplification of the merger process, with the abolition of bureaucratic formalities, faster issuance of approvals, immediate processing by tax services, etc.
