ECONOMY

State plans to auction dozens of houses from next month

state-plans-to-auction-dozens-of-houses-from-next-month

The state will put 31 properties owned by debtors up for auction immediately after the process for the settlement of debts to the tax authorities in up to 120 tranches is completed.

These asset auctions have been scheduled for the period from October 23 to December 20, but could be canceled if the debtors concerned apply to join the 120-installment repayment program by September 30.

Finance Ministry officials say that, in the next few months, particularly from 2020, the pace of confiscations and auctions will grow, obviously targeting debtors who ignore this last-chance settlement program.

This means the noose is tightening around the 1.8 million tax debtors who may suffer forced measures such as confiscations and auctions, with the number of assets to be put under the hammer by the state likely to exceed 50 by the end of the year.