Staikouras: Freeze interest rates for overdue and settled debts at the tax office for one year

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The late payment interest rate remains at 8.76% on an annual basis or 0.73% for each month of delay, despite the increase in interest rates

They are frozen for one year, until November 2023the interest rates charged on overdue and regulated debts to the tax office by decision of the Minister of Finance Christos Staikouras.

The late payment interest rate is maintained at 8.76% on an annual basis or 0.73% for each month of delay, despite the increase in interest rates by the ECB which form the basis of their calculation.

Individuals for debt settlements the interest rate amounts to 4.37% for those who pay the debt in 12 installments and to 5.87% for 24 installments within the framework of the fixed arrangement, while in the arrangement of 120 installments the interest rate is 3%. Debts created during the pandemic have been settled in a scheme of 36 interest-free or 72 interest (with an interest rate of 2.5%) installments.

The Staikouras decision stipulates that “… for one year from the date of publication of this decision, the interest rate of articles 1 and 2 of the decision of the Minister of Finance (B’ 19/2014 and B’113/ 2014) does not change in the part concerning the interest rate of the Main Refinancing operations of the European Central Bank (MRO) before the cumulative change of this by four (4) percentage points, taken as the basis for calculating the interest rate that was in force on 1.1.2014”.

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