ECONOMY

Details on new tax debt payment scheme ironed out

details-on-new-tax-debt-payment-scheme-ironed-out

Greece’s creditors appear to be close to an agreement with the government for the doubling of the number of installments in the standard mechanism for the repayment of tax dues with a minimum monthly amount of 15 euros.

However, inclusion in the scheme will not be at all easy, while the number of tranches granted will depend on income criteria.

Finance Ministry officials say that the final touches will be put to the new standard process this week, and the relevant clauses will be incorporated in the tax bill to be submitted to Parliament in mid-October.

The minimum monthly tranche of 15 euros will only be set for incomes that do not exceed 10,000 euros a year.

The interest rate the settlement will bear is expected to come to 5 percent, with a second chance granted to debtors who miss a payment, but this time with an interest rate of 8 percent.

Meanwhile, the one-off settlement program of up to 120 installments, which expires on September 30, is likely to be extended by one month, to the end of October.