Portugal: employees’ 2011 income cut drastically with the enforcement of the extraordinary tax on the Christmas bonus

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8 September 2011 à 08h43

Updated on 9 September 2011 à 12h38

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2 minutes

Publication: 8 September 2011 à 08h43, Updated on 9 September 2011 à 12h38

Reading time: 2 minutes

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Publication

8 September 2011 à 08h43

Updated on 9 September 2011 à 12h38

Reading time

2 minutes

Publication: 8 September 2011 à 08h43, Updated on 9 September 2011 à 12h38

Reading time: 2 minutes

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loyees’ Christmas bonus has come into force. The tax, withheld and amounting to 50% of the part of the bonus exceeding minimum wage, should bring the State EUR 1 billion. This tax is going to swallow up Portuguese employees’ 14th month. (Ref. 110531)

Extraordinary tax.
Only employees’ Christmas bonus will be affected by this special
tax. The 50% tax will be applied to the
part of the Christmas bonus exceeding minimum wage (SMN), currently €485, and
will be withheld. According to the
impl

…
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