BUSINESS

Confiscation threat raises pressure on taxpayers till year-end

TAGS: Taxation

In the 12 days until the end of the year taxpayers and enterprises will have to pay the state a total of 5 billion euros to avoid bank account confiscations or foreclosures.

Next year will be particularly tough for those who do not pay their obligations within 24 hours of the deadline as they will automatically enter the list of state debtors. According to the law, the state will be able to proceed to confiscations of salaries, pensions and rental payments for debts exceeding 500 euros.

As a result of these new circumstances, taxpayers will have to pay – where applicable – the fourth installment of the Single Property Tax (ENFIA), road tax and the latest installment for any previous debts to the state by December 31, while enterprises will have to pay the sixth and final tranche of income tax before the same deadline.

ENFIA is supposed to fetch 640 million euros into the state coffers this month, while road tax should bring in 1.1 billion euros.

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