Debtors choose to pay taxes in multiple instalments

241 large debtors, each of whom owes €302,142 with the granted discount, were included in the long-term plan for overdue tax debts. According to Tax Department data, the 241 taxpayers opted for a tax plan of 57 to 60 instalments, with a 50% deduction on interest and penalties.

These debtors collectively owe €81.6 million. After the long-term arrangement with deductions, the state will collect €72.8 million.

From July 3, 2017 to June 17, 2018, the total number of similar arrangements reached 11,773, with an overall amount of tax liability of €394.8 million. The state, following the granting of discounts, is expected to collect €325.9 million.

This data was presented to  parliament in the context of the discussion of a bill put forward by socialist party EDEK. The bill proposed an extension of the deadline for submitting an application for the settlement of tax arrears to December 31, 2018. The original arrangement expires on July 3.

Might be of interest

Irish FM pledges support


Eurostat: Regional unemployment rates continue to vary widely in EU regions


Bank of Cyprus: zero tolerance on money laundering


This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More