Debtors apply for new settlement plan in droves

Debtors apply for new settlement plan in droves

More than 13,000 state debtors submitted an application to repay their dues in up to 120 installments within 24 hours of the launch of the online platform’s operations. At the same time, according to data from the Independent Authority for Public Revenue, 100,000 taxpayers visited the platform on Taxisnet to find out the amount they will have to pay and the number of tranches.

A senior Finance Ministry official said that despite the strong interest by debtors, it is still too early to establish whether the arrangement will be successful or not – i.e. how many debtors will enter the new mechanism and mainly what level the state coffers’ takings will come to.

The same official noted that the success of the settlement will depend on how many debtors abandon previous arrangements to join the new one and mainly how many leave the tax authorities’ fixed 12-tranche payment scheme to enter the new program, as the higher the number of people that leave the 12-tranche plan, the greater the loss for the budget will be.

Sources say that the arrangement’s success will depend on the statistics recorded in the first 10 days of June, regarding the amount settled, the number of tranches and the number of old plans abandoned for the new one.

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