FINANCE

New chance for debtors of the past

new-chance-for-debtors-of-the-past

The Finance Ministry and the Independent Authority for Public Revenue (IAPR) will offer many debtors the chance to be reinstated in the standard settlement scheme after previously failing to keep up with repayments.

According to a decision by Deputy Minister Apostolos Vesyropoulos, debtors who have been affected by the pandemic can have their tax debts resettled in the standard payment program of 24 to 48 monthly tranches, without any income or property criteria.

This regulation will concern all those who on November 1, 2019 were included in the previous standard settlement scheme of 12 to 24 installments, but after that date dropped out of the program due to missing two or more consecutive tranches, or because they left newer arrears without payment or settlement.

Taxpayers who are not considered to have been affected by the pandemic but also dropped out of settlement schemes may also rejoin them, but only as of October 1, 2021. For them, however, the income and property criteria introduced by the ministry will apply. This postponement is due to the preparation of the IAPR platform on which criteria-fulfilling debtors will apply.