State Revenues from 120-Installment Debt Settlement Scheme over 215 Million Euro

State Revenues from 120-Installment Debt Settlement Scheme over 215 Million Euro

The state has so far collected more than 215 million euro in revenues from the 240,339 tax payers that joined the 120-installment settlement scheme for overdue debts to the tax office, according to figures released on Sunday. As of next month, meanwhile, improvements regarding the minimum payment and interest rates will come into effect, as well as those relating to taxes owed by businesses. Based on the figures released, the total capital involved in these settlements amounts to 1,432,491,599 euro, as well as 431,670,985 euro in surcharges (for a total of 1,864, 162,584 euro). The total revenue from the settlements amounts to 215,209,359 euro. The number of tax payers that enter the settlement scheme is expected to increase in September once the recently voted changes come into effect, which will lower the minimum installment to 20 euro and decrease the interest rate from 5 pct to 3 pct. As an additional incentive, there will be a 'freeze' of seizures and forced collection measures, while frozen accounts will be unblocked.

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