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New tax leniency programme
There is new possibility for relief in relation to tax debts that have become overdue and tax debts that will be assessed by the tax authorities. Taxand Greece explores the opportunities.
A new tax leniency programme has recently been introduced, pursuant to Law 4321/2015, as amended. The new programme applies, among others, in relation to:
- Tax debts that have become overdue until 1 March 2015 (including debts under payment suspension)
- Tax debts that will be assessed by the tax authorities until 26 May 2015, following resignation of the taxpayer from administrative or judicial appeals pending before the competent administrative authorities or courts respectively
The new programme allows, under certain conditions, the (partial or full) relief of the taxpayer from penalties, interest or surcharges that have been imposed at the time of initial assessment of the tax debts, or after they have become overdue. Tax debts for which the above programme becomes applicable will be subject to annual interest of 3%, for as long as the program is in place.
It is anticipated for the Ministry of Finance to issue guidelines providing further details on the application of the programme.
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