New online tool for the self-employed to calculate their Social Security contributions
In July the Government proposed a new social security system for the self-employed based on real income, which was approved and decreed by parliament in September. It is estimated that, with this new system, half of the self-employed workers in Spain will pay less next year, while a quarter will maintain the same payment, and the remaining 25% will see their contribution increase by up to almost 300 euros per month.
The department for Social Security has made a simulator available to self-employed workers to help them find out how much they will have to pay from January 2023 under the new system.
As indicated on its website, this "simulation is informative" and the contribution to be paid is shown without applying deductions.
The amount to be paid is calculated based on the estimated income for the year. For this purpose, a table of income and contribution bases is provided.
Bear in mind that, if at the end of the year, your annual income has been less than you had expected, you will be able to request a refund of contributions. However, if they are higher, you will have to pay the difference.
To use the online tool, you must indicate the net monthly income that you expect to obtain in 2023 and the simulator will estimate the monthly social security contribution.
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