Debtor

EFKA debt deadline notice

The Single Social Security Entity (EFKA) started sending 281,000 email messages to freelancers, self-employed professionals and farmers with debts of less than 2,000 euros each, in order for them to pay off or at least arrange their debts and maintain their insurance capacity by the end of the month.

Rewarding debtors who pay

The tax administration intends to reward debtors who are consistent with the payment of dues to the state, and to establish new criteria and simpler procedures for granting evidence of tax awareness and debt certificates.

Auctions avoided with advance payment of 10% of debt

A new boost is expected for the out-of-court mechanism for debt settlement, after the improvement regulations incorporated in the new law passed on Tuesday by Parliament.

An amendment provides that creditors are given the possibility to request an advance payment of up to 10% of the debt, as shown by the calculation tool of the extrajudicial mechanism.

POS throughout the economy

The government is proceeding with the expansion of card terminals (POS) in 35 sectors of the Greek economy from January 1, 2024.

According to the draft decision, 100% of economic activity is now covered and immediately after the passage of the tax bill, the conditions and fines for those who do not comply will be made public.

Tax authority posts names of individuals, companies with high outstanding debts to state and insurance funds

The names of individuals and companies that have outstanding debts over 150,000 euros to the state and/or the social insurance fund (e-EFKA) were posted by the Greek Independent Authority for Public Revenue (AADE) on Friday.

Big debtors to be outed Friday

With the July 31 deadline to agree on a repayment schedule for their debts to the state having come and gone, and with very few takers, authorities are taking the next steps: shaming and, hopefully, collecting, although the latter part will be far from easy, officials admit.

Debt limit hike to allow more EFKA insurees to retire

The way for the retirement of more than 150,000 EFKA debtors is opened by a draft law of the Ministry of Labor, increasing the debt limit to 30,000 euros.

At the same time, it foresees the abolition of the 30% "penalty" in the pensions of those who work and its replacement with a special contribution, for incomes over €5,000.

Is debt settlement faltering?

One in every three debtors who apply for out-of-court debt settlement reject the terms they are offered resulting from the platform's algorithm. Most of them claim that the terms are too harsh, while a significant number estimate that it is not in their interest, so the government is understood to be considering new interventions.

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