BUSINESS

Katrougalos law still a nightmare for experts

ROULA SALOUROU

TAGS: Finance

A number of clauses in the so-called Katrougalos law on social security, named after ex-labor minister Giorgos Katrougalos who introduced it, remain inert some 20 months later. Although the law is supposed to be in forced in its entirety for a year now, it continues to cause accountants and tax experts headaches and freelancers and self-employed professionals anxiety.

A group of experts working with the Taxheaven website recorded numerous clauses needing changes or clarifications, some of which will require the cooperation of the Labor and Social Security Ministry, the Finance Ministry and the Single Social Security Entity (EFKA) to find a solution.

One such thorny issue is the clause determining the way contributions are shared by employers and freelancers. The details of the procedure remain unknown, even though 2017 has ended, and accountants are at a loss in their effort to close their books for the year.

There also are major delays in the rebates of social security contributions to freelancers, self-employed professionals and farmers, as their contributions for last year should have been based on their 2016 incomes and not 2015, when they were generally higher.
 

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