More chances offered for settlement of debts to state

More chances offered for settlement of debts to state

An Economy Ministry bill presented on Monday would see the restoration of a 120-installment debt payment scheme two years after a previous one from 2015. It would also offer the option of a partial write-off of a debt to the state not only to enterprises that enter the extrajudicial mechanism but also freelancers who were supposed to be excluded from this process.

Article 15 states that “the state and social security entities are able, after an application by debtors excluded from the field of the law’s application, to propose settlement solutions to them that are equivalent to those in the extrajudicial debt settlement procedure.”

Minister Dimitris Papadimitriou said 400,000 enterprises could potentially enter the mechanism, which he said will start operating from July, once the necessary online infrastructure for receiving application has been set up.

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