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Greece Increases Social Security Contribution Basis Cap — Orbitax Tax News & Alerts

On 9 February 2023, the Greek Ministry of Labor and Social Affairs issued a Circular on social security adjustments with effect from 1 January 2023. Among other things, this includes an adjustment in the social security contribution basis cap. Previously equal to 10 times the minimum wage, the contribution basis cap was fixed at EUR 6,500 in 2020 with future changes to be based on the general consumer price index. The circular provides that based on changes in the general consumer price index in 2022, it has been decided to increase the contribution basis cap from EUR 6,500 per month to EUR 7,126.94 per month with effect from 1 January 2023.