Companies can enter new payment plan of 120 tranches
![Companies can enter new payment plan of 120 tranches](https://www.ekathimerini.com/wp-content/uploads/2019/06/euro_notes_counter.jpg)
The program for settling tax debts in up to 120 tranches was on Thursday expanded to companies with gross revenues of up to 2 million euros per year, to the detriment of the out-of-court settlement mechanism.
The government issued a legislative act that implements Prime Minister Alexis Tsipras’s election pledge, although this could have been done from the original submission of the 120-tranche regulation in May: The government had then opted to propose a maximum number of 36 installments.
However, in view of the general election on July 7, the government is now giving companies that joined the 36-installment scheme the right to shift to the 120-tranche program, for debts confirmed up to December 31, 2018. As a result the extrajudicial mechanism is effectively made obsolete and companies can enter the new mechanism even if they are not sustainable.