The Portuguese government is dropping taxes for those 35 years and under to encourage foreigners to move to the country, and prevent young residents from emigrating.
This new tax break would relieve those 35 and under making up to €28,000/year from paying taxes their first year and progressively reduce taxes over the next ten years.
Finance minister Joaquim Miranda Sarmento believes the tax plan would be 'a fundamental tool to meet the objective of retaining and attracting young people to Portugal.'
Portugal's tax plan, which would cost the country €650M annually, still needs to pass a parliamentary vote set for October 31st, 2024.
Collection
[
|
...
]