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Portuguese Parliament Approves 2022 Budget

08 June 2022

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Approved Changes

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Portugal

Portugal’s 2022 Budget (Bill 4/XV/1) was approved in a final vote in parliament on 27 May 2022. The budget bill, presented in April 2022, is largely in line with the prior bill submitted in October 2021, which was rejected and required resubmission following government elections. The main tax-related measures are summarized as follows: Personal Income Tax The personal income tax brackets/rates are revised as follows, including two additional brackets: up to EUR 7,116 - 14.50% over EUR 7,116 up to 10,736 - 23.0% over EUR 10,736 up to 15,216 - 26.5% over EUR 15,216 up to 19,696 - 28.5% over...