Greece’s Independent Authority for Public Revenue (AADE) is set to launch its new online application for a special tax debt settlement plan—offering up to 72 monthly installments—within the week, and no later than 20 July 2024. The platform will be accessible via myAADE, under the section “Debt Settlements – Application for Debt Settlement under Law 5313/2024”.
Who qualifies—and what debts are covered?
The extraordinary settlement applies only to debts incurred by 31 December 2023, including those owed to:
- The Greek tax administration (AADE)
- Customs authorities
- e-EFKA (the unified social insurance entity) and KEAO (the former health insurance fund)
Debts arising from 1 January 2024 onward remain eligible only for the standard, long-standing installment plan of up to 24 months. This means both plans will operate in parallel—allowing taxpayers to allocate older debts to the 72-month scheme and newer ones to the 24-month option.
How installments work—and the trade-off
Once the platform goes live, users will see their total outstanding debt and all available repayment scenarios. Choosing more installments reduces the monthly burden—but increases the overall cost due to accrued interest. Conversely, fewer installments lower total interest but raise the monthly payment amount.
First payment deadline is strict
The settlement window remains open until 31 December 2026. However, timing matters:
- For tax debts: The first installment must be paid within three days of submitting the application.
- For customs or KEAO debts: The first payment is due by the end of the following month.
This means applicants must ensure sufficient liquidity before finalizing their request.
Over 1.5 million potential beneficiaries
According to Greece’s Ministry of National Economy and Finance, more than 1.5 million individuals and businesses hold legacy, unstructured debts eligible for this new framework. Importantly, the 72-installment plan does not replace the existing 24-month arrangement—it complements it, enabling smarter debt segmentation and significantly easing monthly financial pressure for many.
Who benefits most?
The plan is especially valuable for three key groups:
- High-balance debtors—those with unpaid amounts exceeding €150,000—who aim to avoid negative consequences like inclusion on the official list of major defaulters;
- Small business owners and self-employed professionals facing cash-flow constraints;
- Households with accumulated social security or tax arrears seeking sustainable, long-term relief.