The global solution for payroll professionals, combines custom research, strategic white papers, country primers, webinars, and the expert guidance you’ve come...
Jan. 11—Portugal has enacted new solidarity surcharge rates and thresholds effective immediately for 2016, the Ministry of Finance said in a news release Jan. 7.
The solidarity surcharge was previously only applicable on income greater than the highest tax bracket but all income greater than 801 euros per month ($875) is subject to a solidarity surcharge under the new laws.
Under the approved legislation for 2016, the monthly surcharge rates for individuals are:
• Zero for income less than 801 euros ($875)
• 1 percent on income between 801 euros and 1,683 euros ($1,839)
• 1.75 percent on income between 1,683 euros and 3,054 euros ($3,338)
• 3 percent on income between 3,054 euros and 5,786 euros ($6,324)
• 3.5 percent on all income greater than 5,786 euros.
Previously, the solidarity surcharge rates were 2.5 percent for annual individual income between 80,000 euros ($87,451) and 250,000 euros ($273,285) and 5 percent on annual income exceeding 250,000 euros.
Portugal's standard income tax rates and thresholds for 2016 have yet to be announced.
To contact the reporter on this story: Jared Mondschein at email@example.com
To contact the editor responsible for this story: Michael Baer at firstname.lastname@example.org
The approved rates for 2016 are available in Portuguese at http://www.portugal.gov.pt/pt/ministerios/mf/noticias/20160107-mf-irs.aspx.
More information on payroll issues in Portugal can be found in the Portugal country primer.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)