More than 1.5 million individuals and businesses are potentially eligible for the new favourable scheme for settling overdue tax debts with the tax administration.
The new scheme allows taxpayers to repay tax and non-tax liabilities in up to 72 interest-bearing monthly instalments. It covers all debts owed to the tax and customs authorities that became overdue by Dec. 31, 2023, as well as all fines imposed on taxpayers for various reasons that were transferred to local tax offices for collection and became overdue by the same date.
The scheme potentially applies to 1.3 million individuals with overdue debts totalling 31.5 billion euros, as well as more than 200,000 companies and legal entities with overdue liabilities amounting to 63.5 billion euros.
The main advantage of the new arrangement is the significant reduction in the monthly repayment burden, as outstanding debts that were assessed and became overdue by Dec. 31, 2023, can now be repaid over a six-year period, extending until 2032.
According to estimates by the National Economy and Finance Ministry, monthly instalments could be reduced by 30%-50%, depending on the share of liabilities that relates to debts incurred before 2024.
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