Tax Authority: The 4 'Keys' to the New 72-Installment Regulation

Greece's Independent Authority for Public Revenue (AADE) is launching a new debt settlement program, allowing taxpayers to pay off their tax liabilities in up to 72 monthly installments. This initiative aims to provide financial relief and a structured path for individuals and businesses to manage their outstanding tax obligations.

The application process will be entirely electronic, accessible through the AADE's official platform. Taxpayers can submit their requests starting from July 15, 2024, and the window for applications will remain open until December 31, 2026. This extended period is designed to accommodate a wide range of potential applicants.

Key provisions of the new regulation include coverage for debts that were outstanding as of December 31, 2023. A crucial condition is that these debts must have remained unregulated until April 21, 2026. The annual interest rate for this settlement plan is set at 5.84%, with a minimum monthly installment amount of 30 euros. Furthermore, to qualify for this arrangement, any tax debts incurred from January 1, 2024, onwards must already be fully paid or under a separate settlement plan.