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Portugal Issues New Monthly Withholding Tax Tables for Amended Brackets/Rates

04 September 2024

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Approved Changes

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Portugal

Portugal's Secretary of State for Tax Affairs has issued an order dated 26 August 2024 on new monthly withholding tax tables for income from employment and pensions considering amendments introduced by Law No. 33/3024 and Law No. 32/2024, which were published in the Official Gazette on 7 August 2024. With the amendments, the personal income tax bracket thresholds and rates are revised as follows, along with related income tax deduction changes: up to EUR 7,703 - 13.00% (down from 13.25%) over EUR 7,703 up to 11,623 - 16.50% (down from 18.0%) over EUR 11,623 up to 16,472 - 22.00% (down...