Super-rich only paying 46% tax

Super-rich in Portugal earn almost €3 million on average. But “almost no one is taxed at 50%”.

By TPN, in News, Portugal · 10 Nov 2022, 14:04 · 6 Comments

According to a report by Jornal de Negócios, the super rich in Portugal who have income declared to the tax authorities of around 2.75 million euros, concentrate around two thirds of the country's wealth, but pay an effective tax rate of only 46.44%, well below the defined marginal rate.

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Comments

Good. It’s their money. Not anyone else’s. They earned it.

By Michael Richardson from Lisbon on 10 Nov 2022, 23:00

What a stupid headline. "ONLY" 43% = they get 57 cents for each Euro ..... why is that fair??? No matter what you earn, why should you "lose" 43 cents in each Euro????? P.S. - and, no, I'm not rich

By Doug from Algarve on 11 Nov 2022, 09:16

The problem with socialism is that eventually you run out of other peoples' money.

By Hart from Lisbon on 11 Nov 2022, 10:58

How, how ridiculous... "Only 46% tax"... How about asking how that money is spent by the state? How about all the waste generated with those 46% robbed from people? Have you ever considered how much lifetime retirement costs people? How much that could actually help people that need the money and instead is wasted in overbudget and "tachos" for friends and company.
I'm not rich by any stretch but paying that much tax makes me not want to earn that level. Why damage my company to pay more taxes? Better spend the money directly at the company side.

By C from Lisbon on 11 Nov 2022, 12:19

Stupid click bait headline.

I run a small business and the government takes very nearly 20% of our turnover in sales tax (I.V.A.).
We then pay 35% joint employer/employee Segurança Social.
Add a whole raft of other taxes from road tolls to IRS retentions and if we're lucky we make a profit.
On that profit we pay the best part of 20% company tax.
After all of this we are left with the crumbs from which to take a dividend.
That dividend is then taxed at circa. 40% IRS.
What the real tax rate for us as owners of that small business is certainly well in excess of 60% but would you suggest we are only paying 40% tax.

Do some research like a real journalist might do before making such ridiculous statements.

By Rick from Algarve on 11 Nov 2022, 19:18

The growing communist sentiment is what will increase the outflow of highly qualified specialists from Portugal. Look at the results of the latest elections.

By SS from Porto on 12 Nov 2022, 11:14