Greece Aims to Boost Tax Repayment

February 20, 2015 Taxation in Greece

ATHENS -The government of Greece is forgiving some overdue taxes and making it easier for low-income earners to settle their unpaid tax bills.

During a press conference held on February 19th the deputy Finance Minister of Greece Nadia Valavani indicated that the government will implement a new program to help taxpayers meet their tax obligations, by offering to cut some existing debts and by lowering the cap for the minimum payment required.

All currently outstanding debts which were incurred before the end of the 2013 year will be slashed by 50 percent, if the taxpayer can pay the remaining amount as a once-off payment, or in a scheduled series of payment with a minimum first payment of EUR 200.

Further, all taxpayers with debts outstanding at the end of the 2014 year will be eligible to spread their debts over 100 separate payments, with significantly reduced payments amounts.

Explaining the benefit of the eased payment requirements, the deputy Minister said that “…helping people that can only pay even just €20 a month will have a positive fiscal result so I cannot see why anyone would object to this.”

Nadia Valavani also indicated that low-income individuals who are unable to make even the most minimal of payments will see extra reprieves, and homeowners with outstanding property taxes will enjoy some protection from foreclosure procedures.

Photo By: Images Money