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Biuro Rachunkowe Super Księgowy Jelcz-Laskowice Umorzenie PFR
  • Oławska 23h/2
  • 55-220 Jelcz-Laskowice
  • Kościerzyńska 32
  • 51-430 Wrocław
  • 08:00 - 16:00
  • Monday - Friday

Biuro Rachunkowe Super Księgowy Jelcz-Laskowice Umorzenie PFR

The write-off of PFR subsidies

The coronavirus pandemic has taken a toll on many businesses. The government has responded by preparing the Anti-Crisis Shield, within which the Financial Shield program is being implemented. It is created by the Polish Development Fund (PFR). Many entrepreneurs have received special financial subsidies from the PFR, totaling nearly 61 billion PLN.

Soon, companies that have received subsidies will have to settle and return part or all of them. However, after changes to the Financial Shield regulations that came into effect on April 28, 2021, companies belonging to 54 industries most affected by the crisis related to the pandemic have been exempted from returning these subsidies.

Conditions for write-off of subsidies

The write-off of subsidies in full is possible only if the company meets several conditions. First and foremost, it must belong to one of the 54 industries recognized as being most affected by the crisis related to the prevention of business activities. These include industries such as gastronomy, tourism, hospitality, artistic industries, event organization in arts, culture, or sports, sports-related industries, physical activity, or commerce.

Furthermore, the complete write-off of subsidies is only possible if the company has not ceased its operations, suspended them, or initiated liquidation or bankruptcy proceedings or restructuring at any time from the date of receiving the subsidy until the date of the PFR decision on the amount of the subsidy subject to repayment.

Additionally, the write-off of subsidies is only available to companies that have experienced at least a 30% decrease in sales revenue from April 1 to December 31, 2020, compared to the same period in 2019, or from October 1 to December 31, 2019, compared to the same period in 2020. Another important condition is not having the status of a company in difficulty as of December 31, 2019.

How does the settlement of subsidies work?

To settle the subsidy, the entrepreneur must submit a declaration of settlement through electronic banking provided by the bank with which they concluded the subsidy agreement with the Polish Development Fund (PFR). The declaration must be submitted no earlier than the first day after one year from the date of receiving the subsidy, but no later than within 10 working days after one year from the payment of the subsidy. The settlement process is initiated by the bank, which provides the entrepreneur with a form to fill out.

Once the form is correctly filled out, a draft declaration of settlement with PFR’s proposals regarding the subsidy repayment amount will be generated. Editing the document will be possible when the deadline for submitting the subsidy settlement declaration begins to expire. PFR obtains information entered into the declaration from the Social Insurance Institution (ZUS), the Tax Office (KAS), and other public registers.

When the document is editable, the beneficiary will have to fill in several important fields themselves, including providing information to demonstrate compliance with the conditions for subsidy write-off. These include details about incurred sales losses or employment reduction. Subsequently, the declaration must be signed using the bank’s authentication tools and submitted. Based on the information provided in the declaration, PFR issues a decision to write off all or part of the subsidy, or specifies the amount that the entrepreneur must repay.

What happens if there is no demonstration of adequate loss or changes in employment status?

If the fields regarding sales losses are not completed in the declaration, PFR will assume a loss value equal to 0, indicating that the company did not incur any losses. To qualify for write-off, losses must be at least 30%, so leaving the field blank will result in the write-off not being granted. However, changes in employment status, such as a reduction in employment, require the repayment of part of the subsidy. If the entrepreneur can demonstrate that they belong to an industry with a Polish Classification of Activities (PKD) code that entitles them to write-off, the subsidy will be written off despite changes in employment.