Freelance professionals will soon be able to settle debts of up to a maximum amount of 250,000 euros to the state through the extrajudicial mechanism and the favorable clauses of the relevant law.
The staff-level agreement between Athens and the country’s creditors provides for improvements in the mechanism, which has not had the anticipated effect to date. Up until now, freelancers could only settle debts of up to 100,000 euros in total through the mechanism – i.e. up to 50,000 euros in tax arrears and up to another 50,000 euros in dues to social security funds.
With the amended rules, freelancers will be able to have debts of 125,000 euros to the Independent Authority for Public Revenue and 125,000 euros to social security funds settled via the mechanism.
Another amendment provides for the inclusion in the mechanism of debts created last year that turned overdue – i.e. went unpaid for at least three months – by December 31, 2017, thereby extending the deadline by another 12 months. This extension will apply not only to freelancers but also to enterprises with debts to the state or banks.