Greece tax debt settlement sees low interest in 72-installment plan

Interest in Greece’s new 72-installment tax debt settlement program remains low, with only a few thousand applicants registered despite over one million potentially eligible taxpayers. The Ministry of Finance is reportedly considering corrective measures to make the scheme more attractive.

Several factors are contributing to the low participation. The regulation only covers debts that became overdue by December 31, 2023, which excludes those who incurred new debts from January 1, 2024, onwards. Additionally, taxpayers face the burden of simultaneously managing these new installments alongside existing regular tax obligations, such as VAT, income tax, and ENFIA.

Other deterrents include an interest rate of approximately 5% to 6% and the absence of provisions for the cancellation of surcharges and penalties, which were features of previous settlement programs. The deadline for electronic applications via the myAADE portal remains open until December 31, 2026.