Self-Employed Greeks Closing Their Books Due to Social Security Tax Reforms

Tuesday, January 24th, 2017
Last Update: 12:56

Tax offices have reported that the self-employed of Greece have opted to close their books or transform their companies in order to avoid the new taxes that they will have to endure under the new social security system.

Previously, these same professionals would have paid the annual €650 fee to keep their books open in case work came their way. However, with the latest taxes under the social security system changes, they have decided that it is time to close their books.

Sources report that so many professionals are opting to close their books that tax offices are predicting that an extension past the January 30 deadline for book closing is likely, due to the long queues. For the state, all of this means that they will miss out on collecting a sizable amount of annual book fees that were previously paid to keep self-employed books open.

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