Debt eas­ing may ex­pand to tax ar­rears

Kathimerini English - - Focus - EVGENIA TZORTZI

The Gen­eral Sec­re­tar­iat for Pub­lic Rev­enue is cur­rently work­ing fever­ishly on the terms and con­di­tions for set­tle­ments – in­clud­ing write-offs – of debts that cor­po­ra­tions owe to the state, ahead of the re­turn of the cred­i­tors’ rep­re­sen­ta­tives next week and the com­ple­tion of the bill on out-of-court set­tle­ments.

The draft law con­cern­ing the set­tle­ment of debts that sus­tain­able com­pa­nies owe to banks, tax author­i­ties and so­cial se­cu­rity funds is ex­pected to be tabled for dis­cus­sion with the cred­i­tors on Mon­day, with the aim of send­ing it im­me­di­ately to Par­lia­ment for vot­ing.

Talks will fo­cus on the way debts are to be set­tled and whether the debts com­pa­nies have to the state could be sub­ject to a hair­cut. Banks are in­sist­ing on the par­tic­i­pa­tion of the state in any hair­cuts as a nec­es­sary con­di­tion for their agree­ment to the con­tent of the bill and for the prac­ti­cal ap­pli­ca­tion of the law.

The sec­re­tar­iat, which dur­ing the pre­vi­ous stage of ne­go­ti­a­tions with the cred­i­tors had se­ri­ous reser­va­tions con­cern­ing the scope of pos­si­ble write-offs, now ap­pears to be much more flex­i­ble, as an in­side source told Kathimerini that “it aims to find a so­lu­tion that will as­sist any en­ter­prises that can sur­vive af­ter the set­tle­ment of their debts.”

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