BUSINESS

Car tax reimbursements, required by law, will be made over a period of five years

The equivalent of car taxes enforceable no later than December 31, 2015, which the state has been legally bound to reimburse, plus the corresponding interest, court fees, and other amounts will be paid over the course of five years, 20 percent per year. This payment method was agreed upon by the Government through emergency ordinance. During this period, all foreclosure procedures will be suspended. Outstanding amounts will be updated by inflation rates and the installment payment schedule will be set by the authorities. The same procedure will apply to outstanding amounts the equivalent of writs of execution already issued and not under foreclosure.

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