Portugal s centre-right
minority government approved a sharp income tax reduction for
more than 300,000 people aged 18-35 on Thursday, lowering the
average rate they will pay from next year by. -May 23, 2024 at 11:37 am EDT
- MarketScreener
Portugal's centre-right government has approved a significant income tax reduction for over 300,000 young adults aged 18-35. This measure aims to deter youth emigration by lowering tax rates dramatically. The plan awaits parliamentary approval and is poised to cost the state around 1 billion euros annually.
Around 60,000 Portuguese emigrated in 2022, the same as in the previous year, with the United Kingdom losing importance due to Brexit and Switzerland once again.