Installment of debts: new position

Thousands of Greek citizens in arrears will have a new opportunity to receive installments of their debt, breaking the total payments into 100 and 120 payments.

This applies to taxpayers who meet the criteria for inclusion in the assistance program, but did not make the first installment or did not submit the required applications by the deadline – the end of December 2020. The circular, signed by the head of AADE, Georgios Pitsilis, makes it possible to conclude agreements on the installment plan, including after January 1, 2021. The condition for this will be the timely payment of the installment in December 2020. The new provision of the law gives the right to restructure the debt, dividing the amount into 100 or 120 payments.

Debt settlement: who qualifies for a second chance
In particular, as defined in the Pitsilis circular, an installment plan of 100 installments (Law 4321/2015) or 120 payments (Law 4611/2019) is re-included:

1. Debtors who have complied with the conditions of the restructuring, including after an audit by the competent tax office, and who applied to join the assistance program after 01.01.2021. In this case, the debtors are not required to submit a new application.
2. Debtors who have fulfilled the terms of debt restructuring by the end of December 2020, but have not applied for participation in the program. They need to submit a relevant application to the competent service (tax office / audit center / NTUA) before 04/29/2021.

As well as:
• they have extended the term for payment of installments for January and February 2021 in accordance with the decrees of the ministry;
• they paid at least the January and February 2021 contribution.

In case of non-fulfillment of the above conditions of repayment or renewal of payment, contracts concluded with debtors cannot be restored.

It should be noted that the agreement to pay 120 installments is lost if the debtor does not pay two consecutive monthly installments, as agreed by the parties. And also the agreement to pay 100 installments is lost if the debtor does not pay three consecutive monthly installments.

We remind you that by the end of December, debtors who lost the ability to settle their debt by 100 and 120 installments from March to November last year could apply through myBusinessSupport and restructure their debt under the same regulatory regime and with the same terms and conditions.

In the absence of the possibility of filing an application via the Internet, the application could be submitted to the competent service (ΔΟΥ / Ελεγκτικό Κέντρο / ΕΜΕΙΣ), the head of which is responsible for collecting the debt, depending on the circumstances. To clarify any questions, contact your accountant.

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