Extension of the Overdue Debt Settlement (Ariadne) for periods up to 31/12/2015

The Tax Department announced that from 11/07/2020, the Tax Debt Settlement Procedure (Amendment) (No. 2) Law of 2020 (N84 (I) / 2020) entered into force. According to the above Law, the possibility of settling overdue Tax Debts for tax periods until 31/12/2015 is extended, as follows:

  • For all debts which relate to tax periods up to 31/12/2015 and were registered in the registers of the Tax Department, it is possible to settle in installments, from 14/02/2020 and for a period of 11 months (i.e. up to 14/01/2021).
  • Tax returns that have not been submitted and are related to periods until 31/12/2015, they can be submitted until 30/11/2020.
  • It is noted that the installments of March, April, May and June 2020 that were not paid, are not included in the five (5) allowed errors (installments that were not paid on time) by which the plan is canceled. These installments remain due and the amounts will be distributed in the remaining installments of the plan from 1/7/2020 until the last installment.

The rest of the provisions regarding the Procedure for the Settlement of Overdue Tax Debts Legislation, continue to exist as before. For more information please contact us at 25 583253.