Self-employed may get more time for 2016 contributions

Self-employed may get more time for 2016 contributions

The Labor and Social Security Ministry is mulling a deadline extension for the payment of 2016 social security contributions by more than 650,000 self-employed professionals, doctors, lawyers, engineers and farmers.

Although the Single Social Security Fund (EFKA) issued a circular clearly stating that the deadline for last year’s contributions is November 30, Deputy Minister Tasos Petropoulos said it was possible an extension up to early 2018 would be granted.

The ministry’s aim is, according to sources, to first complete the offsetting of the 2017 contributions based on 2016 incomes (and not 2015 incomes as was the case up until today), and then seek any additional money from 2016. The reason is that this would be a significant burden that may crush self-employed professionals, particularly those who are finding it hard to pay the increased contributions on time this year.

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