Consistent with our commitment to keep you updated on the most significant tax developments, we outline below the most important changes set out in the Joint Ministerial Decision for the offsetting of clawback amounts against expenses related to R&D and Investment projects.
Holders of Marketing Authorizations for Medicinal Products, their local representatives in Greece, as well as any pharmaceutical company that is subject to payment of clawback amounts to GNHSO and Hospitals.
The activities that qualify as R&D Projects, include any action necessary for the marketing of a pharmaceutical product. Indicatively, R&D activities include:
Expenses related to R&D Projects considered as eligible, under conditions, indicatively include:
As an Investment Project related to the development of products, services or production is considered any activity aiming to the establishment of new facilities or the modernization of the existing ones, aiming to improve the quality of the products and of the existing production methods and/or to increase the dynamics of the production procedures.
Expenses related to Investment Projects considered eligible, under conditions, indicatively include:
Especially for 2019, eligible expenses are considered those effected as of 1 July 2019 assuming the relevant contracts have been signed as of 1 January 2019.
At KPMG we have the experience and expertise to assess and advise based on the specific circumstances of your case.
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