Portugal proposes decade of tax breaks for young people to stem brain drain

Portugal proposes decade of tax breaks for young people to stem brain drain

Incentives include series of reliefs starting with 100% exemption in first year of work

Portugal is proposing a novel way of stemming the country’s brain drain: a decade of progressive tax breaks for young people including paying nothing at all in their first year of work.

The centre-right minority government of Luís Montenegro is ditching a proposed 15% cap on income tax for 18- to 35-year-olds and replacing it with a progressive scheme similar to one supported by the opposition Socialists.

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