Editorial Ta Nea: Meeting financial obligations

Until now, in Greece only those who did not meet their financial obligations were rewarded, either for substantial reasons or due to governmental vote-mongering (governments gave a haircut on the debt of those who did not meet payment deadlines, violated debt settlement terms, or did not pay their instalments).

Naturally, along with those who were truly in need, all sorts of crooks tried to exploit government assistance measures.

This tactic stirred concerns among those who were meeting their obligations, as they wondered if they were fools to be responsible with their financial obligations as they too might profit by delaying or simply not paying.

The time had come, therefore, for the government to consider measures that would offer rewards to responsible citizens and an incentive for those who were not, as there is no end of the current galloping inflation in sight, and it is important to stem a new wave of unserviced debt to the state.

As the weekend edition of Ta Nea reports today, the finance ministry (photo) and the Independent Public Revenue Authority (AADE) are mulling a double “bonus” for those who service their debt and comply with tax bureau arrangements.

Among the rewards planned for who are responsible with their debt obligations is expediting the process for the issuance of tax compliance certificates, a graduated reduction of monetary withholdings, and activating a graduated increase of the amount in bank accounts that cannot be seized by the state for unpaid taxes.

The Russian invasion of Ukraine has triggered a chain reaction on the European political scene (the Italian governmental crisis being the most recent example), in the global economy (Russian gas supplies may be cut off next week), and in our daily lives (summer vacations are an impossible dream for half of the Greek population).

This coming winter will be very tough.

Consequently, the government must multiply its initiatives on all levels in order to temper the repercussions, to protect the economically vulnerable, to mobilise those who are not meeting their financial obligations, and to reward those who are.