The president of the Economic Chamber of Greece, Konstantinos Kollias, expressed particular satisfaction with the provisions of Articles 88 and 89, which rectify a seven-year shortcoming in the institutional framework for the supervision of accountants and tax consultants.
With the enactment of Law 4557/2018, responsibility for ensuring the due diligence of accountants and tax consultants—from issuing guidelines to imposing sanctions—was assigned to the Independent Authority for Public Revenue (AADE), bypassing the Economic Chamber of Greece (OEE), which is, by law, the institutional supervisory body for the profession.
Mr. Kollias characterized this as a misstep, one that the OEE had repeatedly pointed out in the past.
Articles 88 and 89 of the new bill restore the proper order: the Ministry of National Economy and Finance is designated as the competent authority for accountants and tax consultants, as well as legal entities providing accounting and tax consulting services, while the imposition of sanctions is entrusted to the disciplinary bodies of the OEE—as should have been the case from the outset.
As the president of the OEE stated, “It is with great satisfaction and a sense of vindication that we welcome the adoption of this long-standing demand of ours by the Minister of National Economy and Finance, Mr. Pierrakakis. Entrusting the OEE with disciplinary oversight and the imposition of the prescribed sanctions ensures that the relevant process will be conducted with absolute scientific rigor and objectivity.”
The OEE also gave a positive assessment of other provisions in the omnibus bill, while noting areas that require improvement:
- 72-Installment Payment Plan: This provides significant relief for households and businesses, offering the option to settle both old and new overdue debts owed to the Tax Administration and the Single Social Security Agency (EFKA). The option to lift account freezes by paying 25% of the debt is viewed as particularly positive for the liquidity of small and medium-sized businesses and self-employed professionals.
- Interest rate of 5.84%: The Hellenic Chamber of Commerce and Industry (HCCI) considers this interest rate to remain burdensome for debtors already in financial distress and calls for its reconsideration, emphasizing that a reduction would enhance the sustainability of the settlement program and taxpayer participation.
- Support for Farmers: The introduction of a new procedure for exemption from the Special Consumption Tax on agricultural diesel via the AADE’s digital platform is viewed positively, as is the extension of the GAIA program to new farmers.
- Housing policy: The broadening of income criteria for rent reimbursement, as well as the provision for reimbursement of two months’ rent for teachers, doctors, and nurses serving in regional areas, are considered socially necessary and targeted interventions.