Portugal’s Economic Revival

Re:Portugal’s Economic Revival by hn_throwaway_99 on Friday December 28, 2018 @05:19PM (#18779930)

Wait, what? Are you saying that the top rate in their graduated income tax system is applied to someone's entire income, not just the amount above the lower cutoff point for the highest band?

If so, that seems literally insane to me. Why wouldn't Portugal fix this?

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Re:Portugal’s Economic Revival by pepelegal on Friday December 28, 2018 @06:20PM (#18780299)

An approximation of the taxes are deducted from the monthly pay, and the adjustment to the final tax is done annually, taking in account all deductions. Yearly final taxes are not applied to the entire income, only to the amount in the band as you mentioned. The approximate monthly taxes are applied to the whole monthly income.

[ Parent | on HN ]

Re:Portugal’s Economic Revival by jdmoreira on Friday December 28, 2018 @06:19PM (#18780293)

Because being reasonable and rational won't take you far in Portugal. Trust me, I'm Portuguese.

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