this post was submitted on 20 Jul 2024
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Portugal - Geral

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Comunidade generalista para Portugal.

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A European Citizens Initiative wants to introduce a Wealth Tax (and they need your help) (www.tax-the-rich.eu)
submitted 2 months ago* (last edited 2 months ago) by [email protected] to c/[email protected]
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cross-posted from: https://feddit.org/post/946773

I'm sorry if this is the wrong place for this (as this seems to be a Portuguese language only community), but Portugal is trailing behind with only 3.5% of the 14.805 Portuguese signatures necessary. If there is a place better for this feel free to pint me to it (or crosspost it there yourself)

If the petition reaches 1 million signatures, the European Commission is legally required to at least introduce it as a proposed law.

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[–] [email protected] 3 points 2 months ago (2 children)

Yep, in Portugal you hit 37% tax bracket at just €27,000 and 45% at around €50,000. These salaries definitely do not make you rich, but they make you owe a ton of taxes!

[–] [email protected] 2 points 2 months ago

Yeah and then a 1 bedroom flat will cost you around 1200€/month. So... it's no longer about being rich but about being able to afford housing and food on a 27k salary.

[–] [email protected] 2 points 2 months ago* (last edited 2 months ago) (1 children)

I guess this was your source: https://taxsummaries.pwc.com/portugal/individual/taxes-on-personal-income

It's a good read for all non-Portuguese people and also because there's already an extra tax for the ultra-rich:

Additional solidarity rate In 2024, an additional solidarity rate, which varies between 2.5% and 5%, applies to taxpayers with a taxable income exceeding EUR 80,000 and EUR 250,000, respectively.

[–] [email protected] 2 points 2 months ago

I was reading gov.pt but this is better for Lemmy since it’s in English. And yea I agree. I also don’t think €80.000 is “ultra rich” by any means lol, especially with our taxes you wouldn’t be living a luxurious life in Lisbon with that nowadays. 250k+ it makes sense.