In the Corona crisis, the signs point to opening and easing. However, business grants have recently been renewed. And surprises are still possible, experts say.
Retail, gastronomy, hotels, cinemas and concert organizers – these and other sectors are particularly affected by corona restrictions and are complaining about a drop in sales.
The state comes to the aid of companies and pays out considerable corona aid. At least 78 billion euros have flowed so far, as the Ministry of Economic Affairs recently calculated. In addition to this huge sum, there are still around 55 billion euros in loans and billions spent on short-time work benefits in the fight against the crisis.
“The company was quickly helped in such a short time,” summarizes Torsten Stockem from the auditing company EY (Ernst & Young), which is one of the big players in the industry. However, there were also individual cases in which payments were not made quickly, said the adviser who works in Hamburg. Applicants who want to receive help have to turn on a so-called third party – in addition to auditors, they also include tax consultants, lawyers and chartered accountants.
“Anyone who has a monthly drop in sales of more than 30 percent, which has been proven to be caused by the corona pandemic, is eligible to apply,” says EY consultant Tobias Kreiter from Freiburg. Fixed operating costs such as rents and leases or expenses for electricity and insurance are reimbursed. Large companies could also get in touch.
No insolvency registered yet
It takes an average of two to three months for the payment to be made, reports Kreiter. “So far, no customer has become insolvent because the payment was made too late.” EY primarily looks after large clients, who then quickly deal with amounts in the millions. “The funding regulations have become more and more complex. The expertise is not there on the company side.»
The procedures are sometimes lengthy, as Kreiter has found. He can only communicate with authorities by e-mail. A call like in the tax office is not possible. His conclusion after two years of the pandemic: “It takes time and nerves to enforce the claims.” Some consultants wish for more digitization. This involves, for example, automated test methods to determine whether numbers are actually plausible.
The state financial aid was only officially extended last week until the end of June. The so-called bridging aid IV was originally supposed to end at the end of March. In the corona pandemic, however, the signs are generally pointing to the opening and easing of restrictions.
Final accounts are pending
Torsten Kempe, consultant to the auditing firm Deloitte, is convinced that “the applications will eventually be settled.” “But then the final accounts follow, which have not even started yet.” EY consultant Kreiter points out that the aid is only paid out with a reservation.
Ultimately, the question is whether the decline in sales is actually caused by the corona, reports Kempe. “If, for example, supply chains are interrupted due to Corona and companies are therefore experiencing a drop in sales, then it must be assessed whether this drop in sales can be classified as corona-related.” Kempe, who has worked at Deloitte since 1995 and is a so-called partner there, warns that this could still trigger debates that may have to be legally clarified.
In the final accounts, it should be clarified on the basis of actual sales figures whether aid was paid out in accordance with the rules. If necessary, there are also repayments at the end. Accuracy is required, because the billions in aid are taxpayers’ money. Deadweight gains? It shouldn’t exist. According to their own statements, the federal and state governments want to do everything they can to prevent criminal abuse of economic aid. Subsidy fraud has long been explicitly targeted in Article 264 of the Criminal Code.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
