120(?) Installments for debts at Tax Office & insurance funds

Thousands are tax debtors and insurance funds waiting for the much-needed 120 installments. It is a regulation that, apart from the large number of citizens concerned, the first concerned seems to be the Government itself. The economic suffocation of the recent years, coupled with the serious possibility of having to pay for retroactive payments, makes it even more urgent to increase the flow of money in public funds.

The government plans and is expected to send its position on the implementation of this regulation to Eurogroup by March 15, when a first definition of the content is expected.

A first general outline seems to be the implementation of the regulation, with conditions such as income and property criteria. It will include debts that have been created in past time, which is also expected to be determined in the near future. An important obligation for the beneficiaries, who will be able to join, will be the mandatory payment beyond the regulated and the current debts. In the general context of implementation, there are also procedures for the release of bank accounts and arrangements for the level of bank accounts. Provision also appears to exist for the deletion of fines and surcharges that will be related, as they all appear, to an inversely proportionate number of installments and up to 80%.

Although the above are almost certainly considered in the design of the new favorable arrangement, the number of installments remains uncertain. So there is a possibility that this figure will be less than 120. In any case, a long-term adjustment, combined with a write-off of surcharges, will certainly increase the flow of money to the public funds, and will breathe thousands of borrowers.

Everything shows that the final draft of the new regulation will come, around mid-April.

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