EFKA takings on the brink of crumbling
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
Coronavirus Greece: 1,606 new cases, 781 intubatedmakis - Apr 12, 2021
Greek authorities announced that the new laboratory-confirmed cases of coronavirus recorded in the last 24 hours are 1,606, of which…
US: There will be costs if Russia acts against UkrainePanos - Apr 12, 2021
U.S Secretary of State Antony Blinken on Sunday said: “it would be a serious mistake” for China to strike at…
Kikilias: The plan is for vaccinations of healthy people in their 40s to begin in JunePanos - Apr 12, 2021
If everything goes according to plan and deliveries for the second quarter are made on time, vaccinations of healthy people…