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Follow on Google News | Portugal Issues Revised Withholding Tax Rates for 2012The Portuguese Tax and Custom Administration issued a circular listing the revised withholding tax rates on salaries and pensions for resident individuals in Portuguese Mainland, on 13 February 2012.
By: Nair & Co Withholding Tax on Wages earned by Unmarried Taxpayers Unmarried taxpayers, with up to four dependent children, would be subject to 0% to 40% withholding tax, and taxpayers, with five or more dependent children would be subject to a withholding tax of 0% to 39%. Withholding Tax on Wages earned by Married Taxpayers Married taxpayers where only one spouse is earning with up to four dependent children, would attract a withholding tax of 0% to 37.5%; and those with five or more dependent children would attract a withholding tax of 0% to 36.5%. If both spouses are earning, withholding tax rates range within 0% to 40%. Withholding Tax Rates on Wages of Disabled Persons Disabled persons will be subject to a withholding tax within the range of 0% to 33.5% on their income. Withholding Tax Rates for Pensioners Unmarried pensioners, and married taxpayers where both of the spouses are pensioners, would be subject to a withholding tax within 0% to 40%. If only one spouse is a pensioner, the withholding tax rate would be 0% to 34.5%. Pensioners with disabilities will be subject to withholding tax rates of within 0% to 24.5%. Get the latest press releases and updates on international tax, compliance and other legal news at Nair & Co. Industry Alerts. About Nair & Co. Nair & Co. provides you with your one touch outsourced finance,internal audit compliance, HR and legal department for your international operations. If you are expanding abroad for the first time, our turnkey solution will help you do so with minimal risk, stress and cost. We currently support more than 1000+ client operations in over 50 countries and have core offices in U.K., India, China, U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing services providers in the world by the International Association of Outsourcing Professionals (IAOP). Learn more at www.nair-co.com End
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