EFKA takings on the brink of crumbling

11 January 2017
196 Views

In view of the clear and present danger that the revenues of the new Single Social Security Entity (EFKA) will crumble due to the excessive contribution-and-tax burden on hundreds of thousands of self-employed professionals and farmers, the Labor Ministry is seeking a lifeline in the revenues of the former Social Security Foundation (IKA) and the Social Security Debt Collection Center (KEAO).

The ministry is pinning its hopes on estimates for takings of more than 1 billion euros from the social security funds’ expired debts, increased contributions from salaried employment and the return to the system of some 350,000 self-employed professionals who up until today have not been paying their contributions because they didn’t have the money to do so. It is in this context that the government has provided the option of partial payment of contributions and has said it will only impose fines on outstanding debts.

Out of the 1.37-billion-euro increase in social security contributions included in the state budget for 2017, the lion’s share is seen coming from the contributions of civil servants that will now be paid into EFKA.

You may be interested

Massive rally for Macedonia in Thessaloniki! Half a million gather
GREECE
shares111 views
GREECE
shares111 views

Massive rally for Macedonia in Thessaloniki! Half a million gather

makis - Jan 21, 2018

At about 3:30 pm, the organisers of the rally announced from the loudspeakers that the participants in the rally are…

FYROM Foreign Minister: We were and will remain Macedonians
GREECE
shares74 views
GREECE
shares74 views

FYROM Foreign Minister: We were and will remain Macedonians

makis - Jan 19, 2018

Foreign Affairs Minister of FYROM Nikola Dimitrov clarified that his country’s interests in the negotiations with Greece over the name…

EuroWorking Group gives “go-ahead” for completion of 3rd review
FINANCE
shares80 views
FINANCE
shares80 views

EuroWorking Group gives “go-ahead” for completion of 3rd review

makis - Jan 19, 2018

The EuroWorking Group (EWG) is expected to issue a positive report for the completion of the third review of the…

Leave a Comment

Your email address will not be published.