The Ministry of Finances is set to introduce an amendment to law3943/2011 which will provide the necessary tools to settle tax debts and claims between taxpayers and the State. The legal reform has been a standing demand of business owners and traders for some time now, who have been obligated to pay huge taxes, when the State owes them huge sums.
The amendment is expected to be included in the new tax bill and will provide that any confirmed tax, overdue payment or debts that are being settled, can automatically be offset with debts of the State towards taxpayers. The offsetting will apply to everything from utility and hospital bills to insurance contributions.
The Ministry of Finances hopes that the amendment will bring some calm to troubled businesses and tradesmen and reduce some of the State debts to the private sector, which are estimated to be in the range of 7 billion euros.
