The coalition government’s anticipated bill that allows taxpayers with overdue debts to the state to pay back in 72-100 installments was finally passed. Nonetheless, the much-awaited bill was watered-down following pressure by Greece’s troika of international creditors made up of the European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF).

The Finance Ministry clarified on Wednesday that only the first installment of the joint property tax (ENFIA) can be included in the debt settlement. Excluded from the tax are four remaining installments of the new property tax that expire on November 29, December 31, January 30 and February 27. The four remaining installments would have to be paid as normal or in 12-24 installments announced the ministry, adding that the overwhelming majority of taxpayers would not be able to pay ENFIA in installments since the minimum installment had to be 50 euros.

Non arrears of income tax, the special solidarity of the trade tax and the luxury tax of 2014 due November 29 are also excluded from the new regulations.

Prime Minister Antonis Samaras and Deputy Prime Minister Evangelos Venizelos met on Wednesday to decide on changes to the law. Their decision to bow down to pressure by troika is symbolic as they had held the legislation as a banner proving that the burden on hard-hit taxpayers was easing. Sources from the Finance Ministry said that the amendment would be submitted to Parliament by the end of the week.