ECONOMY

Platform for standard debt payment opens

platform-for-standard-debt-payment-opens

The online platform for the new standard debt repayment mechanism opened late on Tuesday, offering debtors twice as many monthly installments (ranging from 24 to 48) for the payment of their dues to the state.

Tax administration officials say that in the first hour of the platform’s operation some 1,000 applications were submitted, which illustrates that many debtors were eagerly anticipating the activation of the mechanism so as to settle their arrears to the state.

Interested debtors can enter the mechanism by using their Taxisnet username and password to access the online platform and submit their application. They can then settle their regular tax dues (such as income tax, Single Property Tax etc) in up to 24 monthly tranches without the requirement of any income criteria. Extraordinary debts (such as inheritance tax or various fines) can be settled in up to 48 installments, depending on income levels. The minimum monthly tranche is set at 30 euros.