Debt settlement
Tax Authority & EFKA Debt Settlement: A Guide for Businesses
Published · 7 min read · NS Accounting & Tax Office
Written by the NSTAX team of accountants and tax advisers
Thousands of businesses and self-employed professionals in Greece can now settle older debts to the tax authority and e-EFKA through a new, favourable arrangement of up to 72 instalments. NSTAX explains who is eligible, which requirements must be met and how the monthly instalment is calculated.
For a complete overview, also read our guide to closing a business, tax return deadlines and NSTAX business services.
What the New 72-Instalment Settlement Provides
The settlement covers debts to the tax authority and e-EFKA that were assessed by 31 December 2023 and remained unsettled until 21 April 2026. It provides repayment in up to 72 monthly instalments, with a minimum instalment of €30 and an annual interest rate of 5.84%. Importantly, surcharges are not written off, even in the event of early repayment.
Eligibility Requirements
- The debt must have been assessed by 31/12/2023 and remained unsettled until 21/4/2026
- There must be no other overdue debts outside a settlement — if there are, they must already have been paid or included in another lawful settlement
- All income tax returns for the last five years whose filing deadline expired by 31/12/2025 must have been filed
- The application must be submitted electronically by 31 December 2026
Calculation Example
Consider a common scenario: a business owes €50,000 in debt assessed before 31/12/2023 and an additional €25,000 in new overdue debt created after 1/1/2024. In this case, the business needs to join two separate settlements:
- For the older debt of €50,000: settlement in up to 72 instalments
- For the newer debt of €25,000: the standard settlement of up to 24 instalments, with a monthly instalment of approximately €1,102
The example shows why it is important to separate debts by assessment period before applying — incorrect categorisation can lead to rejection or an incorrect instalment calculation.
Checklist Before Applying
| Step | What to watch for |
|---|---|
| Record debts by period | Separate debts before and after 31/12/2023 — each category falls under a different settlement |
| Check outstanding returns | Make sure you have filed all income tax returns for the last five years |
| Check other overdue debts | Any other outstanding debts must be settled or placed under a settlement before applying |
| Calculate the instalment | Take into account the €30 minimum and the annual interest rate of 5.84% |
| Electronic submission | The application is submitted electronically by 31/12/2026 |
Frequently asked questions
Which debts are covered by the 72-instalment settlement?
What happens to debts created after 2024?
Are surcharges or interest written off under the settlement?
What is the application deadline?
Do You Have Debts to the Tax Authority or EFKA?
NSTAX, an accounting and tax advisory firm in Athens, analyses your business debts and guides you towards the right settlement for your circumstances. Contact us before the deadline expires.
The settlement terms are based on the framework in force at the time of publication and may change. Contact us for an accurate assessment of your case.