Check “freezing”: clarifications from banks ECONOMY

The Association of Banks gives instructions, recommendations and clarifications to bearers and issuers of checks, on when the suspension of the payment of checks is valid.

These clarifications were considered timely, since complaints and reports of abusive behavior rained down in the previous days at the Ministry of Finance and the Ministry of Development.

In particular, checks are divided into 3 categories, depending on the issuer:

For taxpayers of securities that have KAD of affected companies

To facilitate debtors the payment of the securities (check issuers, acceptance of bills of exchange, etc.), whose (a) NIF are under the protected Activity Code Numbers (KAD), based on the files sent to the banks by the Independent Authority (AADE), and (b) they wish to make use of the regulations of Law 4753/2020, the credit institutions will immediately take the necessary actions and notifications -in the term provided by law- regarding the filing process for the relevant return.

The application process by the interested parties must end no later than Monday, December 7, 2020. Until that date, the display / payment / sealing of the above values ​​will not be allowed.

1. Therefore, the period between 11.18.2020 and 7.12.2020 will not be taken into account, that is, the time of presentation / payment / sealing of the previous values ​​is suspended. The sealing or lifting of protest for the values ​​that are in application of the law, even if it took place in the previous period, will not produce legal consequences. Therefore, their bearers must reappear these securities to the Banks, after the expiration date of the declarations.
2. After the expiration of the previous period (7.12.2020), no declaration will be possible.
3. As of December 8, 2020, the values ​​for which the aforementioned declaration has not been submitted on time, will be exhibited / paid / sealed as normal.
4. If the subjects obliged to pay securities, even if they are under the KAD of the affected companies, wish to pay the previous values ​​on time (even before December 7, 2020), they should contact the paying bank.

For debtors to pay securities whose KAD will be included in the perimeter of the affected companies within December 2020

1. The same procedure for the declaration of values ​​will be applied to companies whose VAT will be included in the protected KAD within December 2020. The declaration will be presented within six (6) business days following the next inclusion of the specific KAD in the perimeter of the affected companies.
2. In this case, even if the taxpayers for the payment of securities are under the KAD of the affected companies, and wish to pay the securities before the period of six business days from their inclusion in the immediately preceding period, they must contact the paying bank.

For those who are subject to paying values ​​that are not included in the previous categories

The aforementioned provisions of Law 4753/2020 do not affect the appearance / payment / sealing of securities for taxpayers who do not take advantage of the previous KAD.