ATHENS: Greece parliament legislated for giving public more time to pay taxes. The legislation passed and received wide support form opposition parties. It will allow people struggling to pay taxes to hand over the tax money in up to 100 installments. The Government expects the law will help in recovering just €8.9 billion of the unpaid revenue.
The legislation passed early on Saturday, which received wide support not only from the governing coalition, but also from opposition parties, will allow people struggling to pay their taxes to hand over the money in up to 100 installments. People who pay all their taxes by the end of March will avoid any fines or extra interest.
The government estimates that some €76 ($82.2 billion) is currently owed to the state in taxes, an amount that makes up 42% of economic output. The move comes as the government says it is aiming to create a “new culture of adherence to tax regulations” in a country notorious for its tax evaders. The new legislation is part of a package of reforms and hopes that it will boost the ailing economy.
