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Portugal Releases 2014 Tax Statistics

by Ulrika Lomas, Tax-News.com, Brussels

20 May 2015


Statistics Portugal has reported that the tax burden rose nominally in 2014, with Portugal retaining one of the lowest tax burdens in the European Union.

The tax burden stood at 34.4 percent in 2014, compared with 34.5 percent in 2013, the agency said.

Tax receipts increased by two percent year-on-year, slightly below GDP growth of 2.2 percent.

Value-added tax (VAT) receipts increased by seven percent, and real estate property tax receipts were up 15.8 percent.

Receipts from social contributions increased by 3.3 percent, due mainly to budgetary changes that affected the tax base and a rise in employment rates.

There was an increase of 1.5 percent in revenue from the individual income tax and a decrease of 11.5 percent in revenue from the corporate income tax.

TAGS: tax | economics | value added tax (VAT) | Portugal | gross domestic product (GDP) | budget | corporation tax | excise duty | stamp duty | revenue statistics | individual income tax | Europe

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