Saturday, June 15 2024

Pandemic’s dues paid in 36-72 tranches

Pandemic’s dues paid in 36-72 tranches

The Finance Ministry is offering debtors the chance to enter a special payment program to pay off their debts and obligations created during the lockdowns. The measures concern dues from the period from March 2020 to July 2021, to enterprises, professionals and landlords hurt by the measures to contain the pandemic.

A necessary condition for the 820,000 debtors to enter the program comprising 36 to 72 monthly tranches is for them to submit an application by next Wednesday, January 26, and pay the first installment by the end of the month. Otherwise their debts will be considered overdue and the tax administration will launch the procedure the tax legislation provides for regarding the freezing and confiscation of bank accounts.

According to law, debtors may choose to pay off their dues in 36 tranches without interest or in 72 installments with an interest rate of 2.5%. The minimum amount for each tranche will be 30 euros for dues up to €1,000 (including interest and penalties), and €50 for any dues above that level.

A delay in the payment of a tranche will result in a monthly penalty of 5%.