The affected companies in Saxony must repay their emergency coronavirus aid, but there is some relief. Saxony's Economics Minister Dirk Panter announced an unbureaucratic and flexible repayment process with clear rules. "No one should be overburdened financially and have existential fears," emphasized the SPD politician. However, the outstanding proceedings should not be completely set aside. "Because it's about the money of all taxpayers."
New interest regulations
All those affected will initially benefit from an interest-free repayment period of six months. Subsequently, a fixed interest rate of between 0.5 percent for twelve months and 1.5 percent for 36 months will be granted. Panter emphasized that all those affected must participate in the repayment procedure of the Sächsische Aufbaubank (SAB). The bank has set up a hotline for this purpose (0351 4910 4999). The most important information can also be found at "www.sab.sachsen.de/corona-rueckmeldeverfahren".
Exemption from repayment in exceptional cases
In individual cases, entrepreneurs can also be exempted from repayment, emphasized the Minister of Economic Affairs. The total income from the tax return for 2023 must be less than 35,000 euros net and assets must not exceed 40,000 euros. As a rule, real estate assets should not be taken into account. In addition, the limits increase if there is an entitlement to child benefit.
A total of around 2.9 billion euros was paid out to almost 98,000 recipients in Saxony under the various programs - this corresponds to almost three quarters of Saxon companies. There are currently 84,000 applications for emergency aid grants. According to the ministry, 672.7 million euros have been paid out. In more than 49,000 cases, the processes have already been completed.
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