BUSINESS

Engineers’ taxes and contributions to exceed monthly income

ROULA SALOUROU

TAGS: Finance

From March, tens of thousands of engineers in Greece – from civil engineers to chemical engineers – will have to pay 86 percent of their average monthly takings in social security contributions.

This concerns their current contributions to their fund, additional dues for auxiliary social security and toward retirement lump-sums, as well as past contributions that they are being asked to pay now as there was no calculation in place in previous years.

Combined with tax obligations, they must pay more than 113 percent of their monthly income, so an engineer who makes 1,000 euros a month will have to pay 1,135.50 euros in taxes and contributions, and it is uncertain when this state of affairs will end.

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