Greece opens 72-installment tax debt settlement platform by 20 July, halving monthly payments for hundreds of thousands

The new 72-installment framework

Greece's Independent Authority for Public Revenue (AADE) is preparing to open its online application platform for a new tax debt settlement scheme offering up to 72 monthly installments. The process is expected to become available by 20 July 2026 at the latest, with the relevant selection set to appear in the myAADE portal under the label "Debt arrangements - Debt settlement application law 5313/2026." This follows what Greek media have termed the "Pierrakakis law" on private debt, named after the Minister of National Economy and Finance, Kyriakos Pierrakakis. A parallel procedure for social security contribution arrears owed to e-EFKA and KEO has already been activated on its respective platform. The scheme is designed as a temporary emergency measure and will remain open for applications until 31 December 2026. It targets individuals and businesses with old, unsettled obligations to tax authorities, customs offices, and social security funds who are seeking a more realistic and manageable repayment path.

This is a second-chance policy. But essentially it is a policy of economic reintegration.

Who qualifies and who does not

A defining characteristic of the arrangement is that it draws a sharp line between old and new debt. Only obligations created up to and including 31 December 2023 are eligible for the 72-installment scheme. Any debt that arose from 1 January 2024 onward, or that was re-entered into a settlement after that date, will continue to be handled under the existing permanent 24-installment framework. This separation was deliberately built into the legislative design to prevent recently accumulated arrears from being absorbed into the extended repayment window. When combined with the permanent scheme for newer debts, the total monthly financial burden can be reduced by roughly half for hundreds of thousands of debtors nationwide. Once the application goes live, the platform will present each debtor with a detailed breakdown of their outstanding obligation and the specific installment schedule they would be required to follow, allowing users to choose their preferred repayment horizon.

Payment mechanics and deadlines

Selecting a longer repayment period, up to the maximum 72 months, lowers each individual monthly installment but increases the total interest paid over the life of the arrangement. Conversely, opting for fewer months raises the monthly amount but reduces the aggregate interest burden. This creates a direct trade-off that the platform makes visible before the debtor commits. For tax debts specifically, the first installment must be paid within three calendar days of submitting the application. For customs debts or obligations to KEO and EFKA, the deadline extends to the end of the month following the application. This near-term payment requirement means applicants need to have the first installment ready in cash before they initiate the online process.

Parallel social security track

The tax debt settlement runs alongside an already active but structurally identical scheme for social security contribution arrears held with e-EFKA. Both tracks share the same 72-installment ceiling and the same 31 December 2023 cut-off date for eligible obligations. By aligning the two processes, the government aims to offer a coherent and unified path out of accumulated private debt for taxpayers who owe money to multiple public entities simultaneously. With both platforms operating in parallel through 31 December 2026, debtors can coordinate their applications to minimize their combined monthly outlay.