FAQ

A topic that occasionally arises from interested parties (citizens or representatives of organizations or companies) concerns the speed of payment of one of their invoices. We present the process that precedes payment, showing all the successive stages as well as the bodies involved.

This process arises from a series of relevant laws and regulations that must be adhered to within the framework of the 3rd CSF, the NSRF, etc. It is clear that as a Service we are obliged to comply with the current legislation and we are frequently audited for this both by national bodies (e.g. the EDEL Service of the Ministry of Interior) and by competent EU teams.

As far as we are concerned as a Fund, we make a conscious effort to avoid formalism and unnecessary bureaucratic procedures. This effort is recognized by the answers given to us by the citizens and bodies we deal with in relevant Questionnaires.

Detailed payment process

Inclusion of the project in the ROP (inclusion decision of the RDA of North Aegean) Registration of the project in the corresponding Collective Decision Transmission of the 1st Account by the implementing body to a) RDA of North Aegean, b) DISA of North Aegean c) Regional Fund Definition of sub-account - allocation / financing by DISA of North Aegean Eligibility Request from the Fund to the RDA of North Aegean Payment proposal (eligibility) to the Fund from the RDA of North Aegean Checking of payment / financing supporting documents by the Regional Fund Payment to the contractor or entity (direct or indirect payment)

The payment documents for project invoices are the following:

• Certified copy of the invoice accompanied by a transmittal posted on KHMDIS (ENTITY)
• Contractor's invoice in paper or electronic form with the amount, including the Net Value, VAT, and the total amount of the invoice (CONTRACTOR)
• Contractor's valid insurance and tax clearance certificate (CONTRACTOR)
• Certificate of debt or non-debt for collection of invoice from IKA (CONTRACTOR)
• 2.5‰ withholding in favor of the Technical Education Engineers of POMTEDY and deposit of the amount in Attica Bank with IBAN GR96 0160 0650 0000 0008 5153 587 (CONTRACTOR)
• 6‰ withholding in favor of TEE and deposit of the amount in the National Bank with IBAN GR57 0110 0800 0000 0800 0587 009 (CONTRACTOR)

When it concerns the 1st project invoice, the following are required in addition to the above:

• Award Decision or Committee Minutes designating the Contractor
• Project Contract and Performance Bond
• Paid newspaper invoices if the tender has been published

The payment documents for supplies and services are the following:

• Transmittal posted on KHMDIS accompanied by the original receipt protocol (ENTITY)
• Contractor's invoice in paper or electronic form with the amount, including the Net Value, VAT, and the total amount of the invoice (CONTRACTOR)
• Contractor's valid insurance and tax clearance certificate (CONTRACTOR)

The payment documents for study invoices are the following:

• Certified copy of the invoice accompanied by a transmittal posted on KHMDIS (ENTITY)
• Contractor's invoice in paper or electronic form with the amount, including the Net Value, VAT, and the total amount of the invoice (CONTRACTOR)
• Contractor's valid insurance and tax clearance certificate (CONTRACTOR)
• Prepayable tax of 4% or 10% depending on the type of studies accompanied by proof of payment (CONTRACTOR)

After receiving the necessary supporting documents, the approval from DIAP-PVA (where required), the review of the file, and provided there is funding, we proceed with the payment to the contractor within 5 working days.

The Regional Fund makes a withholding of EADISY 0.07% and AEPP 0.06% to contractors whose contracts are up to 30/09/2022. On these values, stamp duty withholdings of 3% and OGA stamp duty of 20% are made. For contracts after 30/09/2022, a withholding of EADISY 0.1% and correspondingly stamp duty of 3% and OGA stamp duty of 20% is made.

The Regional Fund, depending on the contractor's invoice, makes various tax withholdings as follows:

• If it is a sales invoice or invoice-delivery note concerning fuel, a tax of 1% is applied on the net value over €150 minus any EADISY or EAADISY & AEPP withholding, depending on whether there is a contract before or after 30/09/2022.
• If it is a sales invoice or invoice-delivery note, a tax of 4% is applied on the net value over €150 minus any EADISY or EAADISY & AEPP withholding, depending on whether there is a contract before or after 30/09/2022.
• If it is an invoice for the provision of services concerning a company, a tax of 8% is applied on the net value over €150 minus any EADISY or EAADISY & AEPP withholding, depending on whether there is a contract before or after 30/09/2022.
• If it is an invoice for the provision of services concerning an individual company with a special type of service provision such as legal, accounting, architectural, etc., a tax of 20% is applied on the net value over €300 minus any EADISY or EAADISY & AEPP withholding, depending on whether there is a contract before or after 30/09/2022.
• If it is an invoice for the provision of services concerning a project, a tax of 3% is applied on the net value.
• If it is an invoice for late payment interest, a 15% withholding tax is applied on the value.

For project funding, the responsible services for EDA or DIAP allocations are the most appropriate for information. To get the remaining balance of a project account from the Regional Fund, you need to know the project's unique number, e.g., 2024EP08870006.