Firms can clear debts in 120 tranches

Kathimerini English - - Focus - EVGENIA TZORTZI

The sys­tem­for the ex­tra­ju­di­cial set­tle­ment of cor­po­rate debts be­tween 20,000 and 50,000 eu­ros pro­vides for the re­pay­ment of dues in up to 120 tranches, along with the for­give­ness of banks’ and tax au­thor­i­ties’ penal­ties for late pay­ment.

The sole cri­te­rion for the en­try of a busi­ness with debts of up to 50,000 eu­ros into the re­pay­ment mech­a­nism is a pos­i­tive net re­sult be­fore in­ter­est, tax and amor­ti­za­tion, and sev­eral en­ter­prises are ex­pected to use the last fi­nan­cial year, 2016, so as to im­prove their fi­nances and sat­isfy the se­lec­tion cri­te­rion.

In­ter­ested com­pa­nies can ap­ply on­line for the 120-tranche plan through the Fi­nance Min­istry’s Tax­is­net us­ing their key­word and pass­word, and the sys­tem will au­to­mat­i­cally ac­knowl­edge whether they qual­ify for the mech­a­nism.

The sys­tem for en­ter­prises with debts in ex­cess of 50,000 eu­ros is also au­to­matic but the so­lu­tion will not be stan­dard­ized, as there will be no across-the-board write-offs of de­lay penal­ties etc.

The Econ­omy Min­istry is ex­pected to com­plete the six min­is­te­rial de­ci­sions re­quired by end-July, with the aim be­ing to have the on­line plat­form up and run­ning from Au­gust 3.

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