FT: Portugal seeks to become low-tax haven for young people

FT: Portugal seeks to become low-tax haven for young people

Centre-right government bets on 10 years of tax breaks to stop brain drain
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Portugal's centre-right government is proposing a decade of tax breaks to stem the brain drain of young professionals. The plan offers significant income tax reductions for workers under 35, starting with a tax-free first year and scaling down over 10 years. This initiative aims to attract and retain young talent, addressing high taxes, low wages, and housing costs. However, the proposal faces opposition in parliament and scepticism from the IMF about its fiscal impact.

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By Barney Jopson in Madrid and Sérgio Aníbal in Lisbon

Centre-right government bets on 10 years of tax breaks to stop brain drain

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