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Tax in Portugal

Old 30th Jan 2012, 21:42
  #21 (permalink)  
 
Join Date: Jan 2012
Location: Sunny Europe
Posts: 55
hi everyone!! just to guive you some lights about Sunny Pt!

Great place to leave... except when it comes to tax system nowadays..
Awsome weather, great food, nice ppl.

now the bad part :P

Unmarried and working as an employee:

Monthly Pay () Vs no. of "dependents" aka Kids
(up to) 0 1 2 3 4 5+
575,00 0,0% 0,0% 0,0% 0,0% 0,0% 0,0%
580,00 1,0% 0,0% 0,0% 0,0% 0,0% 0,0%
587,00 2,0% 0,0% 0,0% 0,0% 0,0% 0,0%
633,00 3,0% 1,0% 0,0% 0,0% 0,0% 0,0%
675,00 4,0% 2,0% 1,0% 0,0% 0,0% 0,0%
726,00 5,0% 3,0% 2,0% 1,0% 0,0% 0,0%
801,00 6,0% 5,0% 3,0% 2,0% 1,0% 0,0%
907,00 7,0% 6,0% 4,0% 3,0% 2,0% 1,0%
988,00 8,0% 7,0% 6,0% 4,0% 3,0% 2,0%
1.048,00 9,0% 8,0% 7,0% 6,0% 4,0% 3,0%
1.124,00 10,0% 9,0% 8,0% 7,0% 6,0% 5,0%
1.205,00 11,0% 10,0% 9,0% 8,0% 7,0% 6,0%
1.300,00 12,0% 11,0% 10,0% 9,0% 8,0% 7,0%
1.401,00 13,0% 12,0% 11,0% 10,0% 10,0% 9,0%
1.537,00 14,0% 13,0% 12,0% 12,0% 11,0% 10,0%
1.683,00 15,5% 14,5% 14,5% 13,5% 12,5% 11,5%
1.840,00 16,5% 15,5% 15,5% 14,5% 13,5% 13,5%
1.945,00 17,5% 16,5% 16,5% 15,5% 15,5% 14,5%
2.056,00 18,5% 17,5% 17,5% 16,5% 16,5% 15,5%
2.182,00 19,5% 18,5% 18,5% 17,5% 17,5% 16,5%
2.328,00 20,5% 19,5% 19,5% 18,5% 18,5% 17,5%
2.495,00 21,5% 21,5% 20,5% 20,5% 19,5% 19,5%
2.722,00 22,5% 22,5% 21,5% 21,5% 20,5% 20,5%
3.054,00 23,5% 23,5% 22,5% 22,5% 21,5% 21,5%
3.478,00 24,5% 24,5% 23,5% 23,5% 23,5% 22,5%
4.052,00 25,5% 25,5% 24,5% 24,5% 24,5% 24,5%
4.576,00 27,0% 26,5% 25,5% 25,5% 25,5% 25,5%
5.111,00 28,0% 27,5% 27,5% 26,5% 26,5% 26,5%
5.786,00 29,0% 28,5% 28,5% 27,5% 27,5% 27,5%
6.653,00 30,5% 29,5% 29,5% 28,5% 28,5% 28,5%
7.852,00 31,5% 30,5% 30,5% 30,5% 29,5% 29,5%
9.455,00 33,0% 32,0% 32,0% 32,0% 32,0% 31,0%
11.159,00 34,0% 33,0% 33,0% 33,0% 33,0% 32,0%
18.648,00 35,0% 34,0% 34,0% 34,0% 34,0% 33,0%
20.000,00 36,0% 35,0% 35,0% 35,0% 35,0% 34,0%
22.500,00 36,5% 36,0% 36,0% 36,0% 36,0% 35,0%
25.000,00 37,0% 37,0% 37,0% 37,0% 37,0% 36,0%
+25.000,00 38,0% 38,0% 38,0% 38,0% 38,0% 37,0%

If you're married, it improves a litle bit by 2% to 5% and no... it is not linear
To this cut take out another 11% (min 150) for social security (basically, just add both together and apply the cut).

This monthly tax table is last years table (2011), since there isn't 2012 table ready yet. Also you need to add 1,5% extra cause of austerity measures.

To enter the table, divide your annual gross pay by 14... and enter the table.

Ex: 70.000 gross/y
/14 = 5000
Tax = 28% (no kids and unmarried) = 1400
SS = 11% = 550
extra 1,5% = 75
Net monthly pay = 5000-1400-550-75= 2975/month + 2 extra base pay (13th and 14th month - annual and Christmas bonus)
In reality Gross to Net pay in this example has a 59,5% ratio (40,5% fiscal weight)

Next bad part... life cost:
- apartment range from 600 upwards, depending on type and location. Central Lx (Lisbon) you Might get a cozy T1 down town (old like hell without lift :P) for some 500/600 but since the renting law's changing right now... can't say for sure.
- If you go to suburbs its cheaper, but you can add an increased fuel bill.
- my opinion... target 800 and try to share house with a colleague (T2 house) to halve it to 400
- Public transports are not that efficient to the airport, so count on driving everyday (get a car?) fuel's at 1,6/l (gasoline) and 1,4/l (diesel) and car taxes are killing for new ones (get a used car and good luck)
- 2000 used car + 600Km (100 fuel) or +1200Km suburbs (200 fuel) (not counting trips on days off to enjoy your life)
- food its acceptable, since you can manage for around 350/m if you cook at home (1pax) and going out seldom (it will always depend on what you eat, obviously).

so... overall... from a 77.000 anual gross pay, expect 3217,5/month and take out 1000 if sharing quarters or around 1400 if not.
Fiscal weight of 41,5%

Apart from that... great meat and better fish try the wine as well

Good Luck and nice landings!
Madp1lot is offline  

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