The Ministry of Finance's ministerial decision specifying the criteria for the formation of debt settlement solutions to the State of up to € 50,000 was signed.
It is the so-called "out-of-court settlement of debts", according to paragraph 21 of Article 15 of Law 4469201.
More specifically, eligibility for regulation has:
A. Natural persons with insolvency or legal entities who earn income from business activity and have a tax residence in Greece and their total debts to all their creditors do not exceed the amount of twenty thousand (20,000) euro and / or their debts to the State exceed eighty-five percent (85%) of their total debts.
B. Natural persons who receive income from business activity but have no bankruptcy capacity, provided they have commenced business and have a tax residence in Greece.
The arrangement includes debts to the State that are already established on 31 December 2016) as well as debts in favor of third party creditors, with the surcharges or late payment payments at the time of the adjustment. Entitlement to this decision would result in the automatic loss of any existing arrangements for the same debts.
The setting excludes:
A. Amounts settled by a final court order or a court settlement under the provisions of Law 3869/2010 (A 130), even if the debtor has been deducted for any reason whatsoever, and
B. Compensation for the recovery of State aid granted through special tax-free reserves.
Accordingly, the debtor who falls within the above categories and his total debts to the public does not exceed EUR 50,000, he submits an application to the Tax Administration from 1 February to 31 December 2018. The application is submitted electronically. The settlement is granted once per debtor.
For the submission of a proposal for settlement by the State, the disposable income and the value of the assets, movable and immovable, the debtors are taken into account.
Settlement by category of debtors
1. Arrangements for the category of debtors of natural persons with insolvency or legal persons who earn income from business activity with total debts up to 20,000 Euros.
A. For debtors with a total amount of a basic debt to the State of up to € 3,000:
Separate payment of the totally owed amount without the possibility of deleting any amount
Determination of the number and amount of monthly installments as follows, minimum amount of each installment of EUR 50 and maximum number of installments 36.
B. For debtors with a total amount of a basic debt to the State from € 3,000.01 to € 20,000:
Remission of 85% of the debts from surcharges and late payment payments. Specify the number and amount of monthly installments based on the following rules:
Minimum amount of each installment of 50 EUR and maximum number of installments 120.
2. Arrangements for the category of debtors of natural persons with insolvency or legal persons who earn income from business activity with debts to the State exceeding 85% of their total debts.
A. For debtors with total debts of up to € 20,000 it is the same as the previous ones.
B. For debtors with total debts ranging from € 20,000,01 to € 50,000:
Remission of 85% of the debts from surcharges and interest on late payment, as well as 95% of the debts from fines imposed by the tax administration.
Specify the number and amount of monthly installments based on the following rules. Minimum amount of each installment of 50 EUR and maximum number of installments 120.
3. Arrangements for natural persons who obtain income from a business without bankruptcy.
A. For debtors with total debts to the public up to € 20,000, just like for debts up to € 20,000 for those who have bankruptcy.
B. For debtors with total debts to the public from 20,000,01 to 50,000 euros. The State grants arrangements with the following features:
Remission of 85% of the debts from surcharges and interest on late payment, as well as 95% of the debts from fines imposed by the tax administration.
Determine the number and amount of monthly installments as follows:
Minimum amount of each installment EUR 50 and maximum number of installments 120.
The State does not propose arrangements:
1) If he has, in accordance with his internal procedures, his own viability study, whereby the debtor's debt is characterized as unsustainable
(2) If the total debt to be settled exceeds 20,000 and the total value of the debtor's assets exceeds 25 times that amount.
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