23/01/2009

Since last December 18th, only the projects which total cost exceeds 1 million euros are concerned by the regulation in force for revenue-generating projects.
A quick summary of these rules: if a project generates income (sale /rent of land or buildings, provision of services etc.), this income must be incorporated into the budget. It shall be deducted from the amount of eligible expenditure. Non declared income will be deducted from the ERDF grant at the time payments are made. All income generated during a period of 5 years following completion of a project must be deducted from the ERDF grant .
This threshold has been created by the Regulation modifying Article 55 paragraph 5 of EC Regulation 1083/2006.
Click here to download the Regulation