Tax office debtors will have less than 36 installments available if their debt does not exceed 1,000 euros, and 72 installments if the debt accumulated since November 1, 2021 exceeds a total of 2,000 euros to close their outstanding debts. The platform for regulation opens during the day.

It will bear interest – with an interest rate close to 4% if the contributions are less than 36, and 5.5% if they are between 37 and 72 – with a minimum contribution of 30 euros.

The application window will close at the end of July and anyone who applies will have to pay the first amount required within three business days. Late payment of one payment entails a surcharge of 15%, while missing several payments results in the loss of the agreement.

The table below shows the monthly payment that someone will have to pay in order to pay off debts accumulated from 01/11/2023 until the end of January 2023 before the tax office. With 1000 euros, the installment cannot be more than 33 euros due to the minimum amount of 33 euros. The specific debt is repaid in the amount of 31.75 euros, and the total amount until the payment is due is 1058.25 euros. Accordingly, with a debt of 3,000 euros, there can be 72 installments. Each of them will reach 49.01 euros, and the total amount that must be paid by the end of the agreement should be 3,528.98 euros. The following table has even more examples with the amounts owed, the maximum number of payments, the monthly payment that must be paid, and the total amount that will need to be paid before the end of the agreement.

In order to be included in the arrangement, the interested party must fulfill the following conditions on the date of filing the application for inclusion:

1. file all income tax returns for the last five (5) years that expired before 12/31/2022,
2. have not been irrevocably convicted of tax evasion or smuggling,
3. if the applicant has been subject to a debt settlement, that settlement must be in effect.

Late payment of the installment entails its burden with a monthly surcharge of fifteen percent (15%).

An application for inclusion in the regulation is submitted electronically to the tax administration by July 31, 2023.

For inclusion in the Regulations, the first installment is paid within 3 (three) working days from the date of submission of the application for inclusion in the Regulations. Subsequent installments are paid on the last business day of the following month from the date of submission of the application for inclusion in the contract.

Being subject to and complying with the law provides the debtor with the following benefits:

1. proof of knowledge is provided,
2. the execution of the sentence under section 25 of the Law 1882/1990 (A’43) is suspended or, if its execution has begun, is interrupted. For the period of validity of the decision, the limitation period for a criminal offense is suspended, in derogation from the limitation period of Article 113 of the Criminal Code, and
3. the application of coercive measures and the continuation of compulsory enforcement proceedings in respect of claims, movable and immovable property are suspended. During the term of the regulation, seizures made in the hands of third parties at the expense of the debtor shall not prejudice the future claims of the debtor against the third party, provided that the seizure relates exclusively to debts that have been regulated in accordance with the provisions of this Agreement and are brought to the attention of third parties.

The agreement becomes invalid, with the consequence of the obligatory immediate payment of the balance of the debt according to the details of the certificate, if the debtor:

1. fails to pay two (2) consecutive monthly payments under the agreement or delays payment of the last two (2) payments under the agreement for a period of more than two (2) months,
2. after one (1) month from the effective date, he has not paid or been permanently regulated or otherwise lawfully settled all of his other outstanding debts that are not regulated and not under payment suspension.