Lusa - Business News - Portugal: Average income tax rate falls to 11.65% in 2024
Tax rates news in Portugal
Latest news and stories about tax rates in Portugal for expats and residents.
Latest news and stories about tax rates in Portugal for expats and residents.
The effective personal income tax (IRS) rate has been decreasing annually, dropping to 11.65% in 2024, according to statistics from the Finance Portal. This rate, which was 13.05% in 2022 and 12.85% in 2023, represents the ratio between tax paid and total taxpayer income. Out of 6.2 million households that filed returns, only 3.4 million were required to pay tax. The data also highlights variations by marital status, region, and income source, with higher effective rates observed in districts like Lisbon, Setúbal, and Porto due to higher income levels.
Data from the Finance Ministry also shows that the personal income tax collected by the State in 2024 amounted to 17.303 billion euros
The effective personal income tax rate corresponds to the ratio between the tax assessed and the total income of taxpayers.
The webpage provides a variety of recent news updates related to Portugal. Highlights include the celebration of Portugal Day in the Azores and Luxembourg, and ongoing political debates such as discussions on tax rates and the performance of Lajes Air Base. There are also reports on economic matters, including the retirement pension of Mário Centeno and a political inquiry involving Santos Pereira. Additionally, the site covers notable events like the Portuguese football team's recent victory in the Europa League, allegations of favoritism towards Ryanair by the Azores government, and a significant fraud case involving luxury real estate. Other updates include weather-related road closures in the Azores, and ongoing international conflicts impacting the region, such as the rising death toll in Lebanon due to Israeli attacks.
