ECONOMY

Last chance to re-enter debt schemes

last-chance-to-re-enter-debt-schemes

Taxpayers and companies with debts to the state have until Thursday to apply for re-entering the payment plans of 100-120 tranches, and must also pay December’s installment.

The tranches missed as a result of the pandemic – from March up to November – will be added after the end of the debt settlement program.

For individuals and companies to return to any arrangement they may have forfeited due to coronavirus restrictions, they have to submit an application at the mybusinessSupport online platform run by the Independent Authority for Public Revenue (IAPR). Before that, they also have to settle any other expired dues and pay the December tranche via web banking – all by Thursday.

According to a circular by IAPR, debtors going back to their payment plans will enjoy the same terms and conditions as their original agreement, without any additional interest on overdue installments after the conclusion of the scheduled installments.

Applicants must declare they have been harmed by the pandemic and missed out on payments on some or all of the months from March to November 2020.