ECONOMY

Stricter rules for taxpayers with debts

Stricter rules for taxpayers with debts

A new, stricter procedure for taxpayers with debts to the state comes into force on Tuesday. According to the new protocol, any debtors who fail to observe their obligations to the tax authorities within 30 days of the deadline will automatically be thrown out of the settlement program and miss out on its favorable terms. Any fines that had been frozen as a result of the settlement agreement would also reapply.

This will affect all manner of debt settlement arrangements involving taxpayers and the state. Therefore, if a taxpayer has entered the 100-installment payment program and must also pay the current Single Property Tax (ENFIA), they will only have a 30-day grace period for the payment of both, meaning that if the ENFIA installment is not paid or also entered into the 12-installment program at the tax office, all favorable settlement terms will be canceled.

From July 1, 2016, the protocol will become even stricter, as the grace period will be reduced from 30 to 15 days for those in the 100-installment program who create new debts within that period.

Then, from January 1, 2018, there will be no grace period granted, as taxpayers will have to pay their installments by the set deadline, or immediately forfeit the favorable terms they have been granted.
 

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.