Huge rise in tax payments by credit card

Huge rise in tax payments by credit card

The practice of paying income and property taxes to the state via credit card in nine or 12 monthly installments has been taken up by many more taxpayers in 2016, as they find themselves being required to pay more in tax every year.

According to data which Kathimerini has seen, tax payment via credit card has so far exceeded 500 million euros this year – twice last year’s figure. In September, when the second income tax installment coincided with the first of the Single Property Tax (ENFIA), the year-on-year increase in credit card payments surpassed 200 percent.

Banks are closely monitoring the phenomenon, making sure that the monthly payments for the cards are being met without any debts being accumulated.

Bank officials note to Kathimerini that taxpayers who choose to spread the burden over more months via credit card are generally good clients and consistent in their tax payments. They neither delay the repayment of their dues to banks – thereby retaining their credit cards – nor have they forfeited their obligations to the state or resorted to any debt arrangements in 12 or more installments.

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