ECONOMY

State will tap more debtors’ accounts, salaries and pensions

state-will-tap-more-debtors-accounts-salaries-and-pensions

Tax authorities will start tapping many more state debtors’ salaries, pensions and benefits as of November 1.

A circular issued on Friday by the general secretary for public revenues, Katerina Savvaidou, provides for the lowering of the level beneath which salaries and pensions are protected from 1,500 to 1,000 euros, in line with the new bailout agreement.

The circular dictates that the state can confiscate up to 50 percent of salaries, pensions and benefits of between 1,000 and 1,500 euros for expired debts, and the entire amount if that is in excess of 1,500 euros.

The level beneath which bank deposits are protected has also been lowered from 1,500 to 1,250 euros per account holder per bank.