The day of “tax exemption” refers to the time it takes each year for a person to pay their taxes in full for the year, meaning that the remaining income can be considered to be “tax-free”.
The data was released by the Molinari Economic Institute in France, with calculations by the consultancy firm EY, and was first reported by Jornal de Notícias. The basis is the average salary of a single worker without children, calculating taxes such as personal income tax and VAT from the tax regime applicable in 2024.
France is the country that will be exempt from taxes the latest, on July 17, which means it has the highest tax burden in Europe. On the other hand, Cyprus is the country that stands out, exempting itself from taxes on April 21, followed by the United Kingdom and Malta (on May 1 and 2, respectively).
In the last year, Portugal has once again performed worse than the European Union average and was one of the 13 countries that recorded a one-day increase on the day of exemption.
We keep getting exploited left and right, a huge chunk of our meager salaries are used to pay taxes, we actually speak English and other languages in the workplace, we can't afford buying houses in our own country, it's depressing and desperate.
And yet, we're being hailed a touristic and livable paradise.
No one cares about Portuguese nationals! There's people living in tents in the middle of Lisbon, for God's sake!
By AlfAlfa from Lisbon on 22 Aug 2024, 08:27
I wonder why educated young Portuguese are leaving for other countries, why locals struggle to afford properties in their childhood neighborhoods, and why there’s a lack of trust in politicians. Do Portuguese policymakers and economists understand anything about the "rotation of capital"? Workers and investors feel burdened by taxes. Perhaps lowering tax rates could spur more transactions, leading to increased tax revenue for the government and giving residents a satisfying sense that their income goes further. Everyday, the country is losing a bit more of its own identity, and the void is being filled by migrants. The heritage of the region is disappearing. It's very sad to see the transformation and it all stems from a destructive tax structure.
By Dave G. from USA on 22 Aug 2024, 08:37
This should serve as a reminder to those who keep calling for more government spending, free health care, free education, free transport, subsidised housing and so on, because they're supposedly 'human rights'! What about the human rights of a person to keep more of their income, and not see it confiscated by an overbearing, interfering government?
At least Portugal has a balanced budget, spending only what it generates in taxes, unlike the UK which spends £110 for every £100 raised through taxation. So the UK's tax burden is only low because it's borrowing like crazy, to spend like crazy. That is not fiscally prudent, but irresponsible.
Politicians aren't looking to long-term stability and fiscal responsibility, but to offering gimmicks to gullible voters to get re-elected, in the hope they're going to believe there's 'free' money from the State.
By Billy Bissett from Porto on 22 Aug 2024, 09:37
Look at the comments. As usual, people who just moan and complain, but don't actually suggest any solutions, nor do they ever do anything to make their own lives or anyone else's lives better. Parasites. Boomers. The sooner your generation is gone, the better.
By Jeff BB from Beiras on 22 Aug 2024, 22:13
JEFF B. You apparently DID NOT read my comment.
By Dave G from USA on 23 Aug 2024, 11:43
Without these complainers, the government will not understand what the people's priorities are. The solution lies with the government, not with the messenger.
People like you think you have the answer to the solution that should balance many factors - not just cut expenses. Perhaps those that come to enjoy the paradise should contribute more, but this may reduce tourism.
By Don from USA on 23 Aug 2024, 12:02