Extension of debt payment scheme deadline

Greek businesses and individuals now have until July 15 to enter a payment scheme for expired debts to state authorities, as the original deadline yesterday was put back. The deadline for those with debts to social security funds has been postponed to July 31.

The amendment that the government tabled in Parliament on Friday provides firms and people with the option of entering the 100-installment payment program up until mid-July, in the hope that more debtors will direct much-needed cash to the state coffers.

“This amendment constitutes the government’s response to the thousands of messages from citizens that have stormed the Finance Ministry in recent days. It also responds to the need to facilitate tax administration, as thousands of cases remain in the monitoring stage and it will make it easier for them to enter the payment scheme,” the ministry statement accompanying the law amendment said.

Ministry data showed that some 750,000 taxpayers and corporations have so far entered the payment program, thereby settling outstanding debts adding up to about 5.25 billion euros. The scheme exempts taxpayers from fines, penalties and any judicial consequences.