According to the OECD report, the labor tax burden increased in Portugal by 0.2% from 2022 to 2023, rising from 42.1% to 42.3%.
The average tax burden in OECD countries in 2023 was 34.8%, an increase of 0.1% compared to 2022.
Portugal rose from 9th place to 8th in the ranking of countries with the highest peso IRS and social contributions. Income tax and employer social security contributions accounted for 79% of the total tax burden in 2023, above the overall average of 77% for OECD countries.
For the average married worker with two children, Portugal’s tax burden (32.3%) ranks 12th. Tax cuts and child-related tax credits reduced the tax burden on these workers by 10% in 2023, above the OECD average of 9.1%.
The trajectory of increase in the tax burden in Portugal from 2009 to 2023 – from 37.3% to 42.3% – contrasts with the decline in the average tax burden in OECD countries – from 36.2% to 34.8%.
Author: morning Post
Source: CM Jornal
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.