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Tuesday, May 28, 2024

In the next Plenary, the plan for overdue debts

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Στην επoμενη &Omicron ;λοεισιαξι&epsilon ;σμες οφειλς

In unification of the EDEK and DIPA law proposals, with which debtors will have a new opportunity to join the overdue debt settlement plan in installments, which was implemented for the first time in 2017 , the services of the Parliament proceeded.

According to the text of the revised law proposal, Commissioner of Taxationwill be able to accept and review applications for inclusion in the scheme. Previously, the taxpayer should have submitted all the tax returns due by the date of the application for adjustment and the VAT.

At the same time, a provision was included according to which the new regulation will apply until December 31, 2027, so that there will be a limitation in the utilization of the plan.

The revised law proposal will be discussed at the session of the Parliamentary Finance Committee, which will convene on May 13. In fact, during the session the parties will transfer the final positions of their parties, so that the law proposal will be brought to the Plenary Session of the Parliament on May 16.

The Department of Taxation agrees with the proposed law, which estimates that individual requests for inclusion in the overdue tax debt plans are not expected to be submitted en masse.

Meanwhile, ELAM will demand that a proposal that it submitted and which provides for the increase of the rations to 120 from 60 provided by the legislation, be put to the Plenary Session of the Parliament. A proposal with which the Tax Department disagrees. However, since 2017 when the plans were first implemented, 42,600 arrangements have been made so far, with the state collecting €608 million. It is worth noting that 70% of taxpayers paid off their debts by paying only one installment.

Philenews

Source: 24h.com.cy

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