Large debtors on the ascent

About 70% of total overdue debts to the tax authorities comes from businesses, according to the Independent Authority for Public Revenue (AADE) data analyzed by the Parliament Budget Office.

Most of those businesses have been bankrupt for decades, while for those that are still active, after taxes, unfortunately the legislation and the procedures that the auditors have to follow have until now led to zero results.

For example, from the imposition of a fine to the initiation of the procedures (audit report and collection), it can take at best a month or 40 days, and at worst even six months or more.

The figures show that corporations owe 70% of overdue debts, reaching 58.9 billion euros at the end of April. However, little of this amount can be collected today. For this reason the tax administration is now focusing on the new arrears that have been created, as...