New from 1 April: New minimum social security threshold for new contractors
Tuesday, 27 March 2018
A new minimum threshold for social security contributions will enter into effect on the 1 April for independent contractors in their first year of activity. The threshold will be lowered from the present 13,550.50 euros to 6,997.55 euros.
A new businessman whose net professional income is less than 13,550.50 euros will also benefit from a reduced provisional quarterly contribution, with a minimum of 358.62 euros instead of 694.46 euros.
The first months of professional activity can prove to be economically difficult in some sectors such as trade and services, but also for lawyers or architects, the Federal Minister for Independent Contractors, Denis Ducarme, stressed.
The new measure will take effect on the 1 April and will apply to any independent contractors in their first to fourth quarter of activity during the second quarter of 2018.
More than 10,000 independent contractors are expected to benefit from it.