BUSINESS

EFKA frets over adjustment of social security contributions

ROULA SALOUROU

TAGS: Economy

By next month the calculation of the social security contributions of 1.4 million self-employed professionals, freelance workers and farmers will have started, based on their 2016 incomes, and by the end of the year the process of offsetting rebates against any contribution debts will be completed according to a law recently passed through Parliament.

The offsetting has already started on the online platform of the Single Social Security Entity (EFKA), with the dramatic reduction in tax revenues already proving a major headache for EFKA as well as the government.

Data show most people are entitled to rebates, which will eat into the EFKA surplus.

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