Incentives for debtor companies

According to the tax bill submitted to Parliament by the Finance Ministry on Friday, the government is introducing incentives for enterprises with debts to the state to pay up in fewer tranches having entered the scheme where payments can be made in up to 120 installments. The vote is to be held on Thursday following a decision to shorten the debate process.

The incentives for the speedier repayment of dues to the tax authorities have come about due to the government's desire to collect as much as possible through the new arrangement so as to avoid a revenue shortfall in the 2019 budget.

This new 120-tranche arrangement, dubbed "the last chance," offers businesses with a main debt of up to 1 million euros the option of settling their debts in monthly payments over 10 years without any turnover criteria. However, enterprises that choose to pay their dues in fewer...