Portugal’s Government Proposes 100 Percent Tax Cuts for Under 35s in Bid to Reduce Emigration

Portugal’s center-right minority government is taking steps to address the exit of youth from the country by proposing a 100 percent tax break for individuals aged 35 and under, in a measure aimed at discouraging emigration. Under the initiative, introduced as part of the government’s first budget bill on Thursday, individuals under 35 earning up to 28,000 euros (about $30,500) per year will receive a 100 percent tax exemption in their first year of work. This exemption will gradually decrease to 25 percent between the eighth and 10th years. The plan is expected to affect more than 300,000 people. Around 850,000 people aged 15 to 39, or approximately 30 percent, have left the country and are now living abroad due to poor working conditions and low wages, according to the Emigration Observatory....