Famagusta District Self-Government Organization significantly reduces arrears

The Famagusta District Self-Government Organization (EOAA) has successfully reduced outstanding sewage tax arrears by €12.6 million since its inception on July 1, 2024. Starting with a inherited debt of €26 million, the organization managed to lower the remaining balance to €13.4 million by October 22, 2026, marking a 48.5% reduction. This achievement is attributed to an intensive collection strategy, including systematic communication, legal actions, and payment settlements.

A significant portion of the focus has been on major debtors. Specifically, of the 43 largest debtors who collectively owed €9.5 million upon the organization's establishment, €4.43 million has been recovered, while an additional €1.22 million has been incorporated into repayment agreements. EOAA President Yiannis Karousos noted that approximately 25% to 30% of debtors are systematic non-payers.

To further address the issue, President Karousos has proposed a legislative amendment to the Minister of Interior, Constantinos Ioannou. The proposal seeks to grant the organization authority to publicly release an annual list of businesses with overdue debts exceeding four years, a strategy referred to as "name and shame," as part of ongoing efforts to ensure financial stability and fairness in revenue collection.