Bill on payment for debts to tax authorities and social insurance funds tabled in Parliament on Monday
The bill on payment for debts to tax authorities and social insurance funds was tabled in parliament on Monday, and is expected to be voted into law on Wednesday May 15, was reported on Monday.
Meanwhile, parliamentary committees will begin processing the bill on May 8.
This legislation will allow for the settling of these personal debts in up to 120 monthly installments, with a minimum installment of 30 euros.
Finance Minister Euclid Tsakalotos, Interior Minister Alexis Charitsis and Labour Minister Effie Achtsioglou presented the government’s legislation during a presser at the Finance Ministry on Sunday.
The online platform for submitting debt settlement applications is expected to launch on May 14.
The relief bill will also require the formal approval of Greece’s lenders and financial institutions who supervise the implementation of economic reforms.
Joint ministerial press conference on debt settlements bill scheduled for Tue. afternoon
Ministers of Interior Alexis Charitsis, Labour Effie Achtsioglou and Finance Euclid Tsakalotos will hold a joint press conference on Tuesday afternoon on a new bill settling the payment of debts by taxpayers in 120 installments.
The press conference is scheduled for 17:00 at the Finance Ministry.
Tabled in parliament on Monday, the bill outlines ways of settling debts to the tax authorities, social insurance funds and local government entities. Discussion in committee is expected to begin on Wednesday, May 8. It is expected to be introduced to the parliament plenary on Tuesday, May 14, with voting scheduled for Wednesday.
Provisions for tax debts
The bill tabled in parliament on a payment schedule of up to 120 installments for outstanding debts is expected to benefit nearly 4 million taxpayers, according to its provisions revealed on Monday.
The bill offers an installment plan for outstanding debts in both taxes and social services funds.
In terms of tax debts in particular, the qualifying criteria for the 120-installment plan take into account a taxpayer’s annual declared income and the number of children.