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Greek Finance Ministry Extends Deadlines for Tax Debt Payments

Photo source: Athens Traders Association (esathena.gr)

Photo source: Athens Traders Association (esathena.gr)

Greek taxpayers affected by the coronavirus pandemic who have still not paid their taxes will have until the end of the year to pay up, the Finance Ministry said on Thursday.

Finance Minister Christos Staikouras announced an eight-month extension to the tax payment deadline on top of a previous April 30 date.

The minister also said that dues could now be paid in up to 48 monthly instalments after that date.

The announcement comes on the back of a new series of tax breaks announced by Prime Minister Kyriakos Mitsotakis and Staikouras earlier this month.

More specifically, deadlines for tax debts have been extended further from 30 April 2021 to 31 December 2021.

Once the deadline has expired, debts can be paid under a settlement plan with the option of 24 interest-free instalments or 48 instalments at 2.5 percent interest. The first instalment should be made by 31 January 2022.

Extensions have also been given to business owners or employees in sectors impacted by the health crisis extending the deadline for February instalments of set debts.

The new measures concern debts of approximately 1 billion euros. 

A ‘breath of air’ for enterprises

Photo source: European Parliament / © Antic/AdobeStock

Photo source: European Parliament / © Antic/AdobeStock

Speaking on behalf of enterprises, Piraeus Chamber of Commerce and Industry President Vassilis Korkidis described the decision as a “breath of air”.

“The finance ministry announcement for the suspension of payments until the end of 2021 of all debts to the state which have accumulated since the beginning of the coronavirus pandemic, ie from March 2020 until today, have remained unregulated, or have already been extended to April 30 of this year, come as a breath of fresh air for the businesses and households that have suffered a massive blow due to Covid-19,” Korkidis said.

Along the same lines, Labor Minister Kostis Hatzidakis announced a renewed extension from 30 April 2020 to 31 December 2020 of social security payments  for businesses and the self-employed impacted during the first lockdown.

The minister added that legal revisions were underway to cover new debt settlement and repayment options.

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