Portugal’s tax burden to rise to 35% of GDP in 2020

The burden of taxes and social security contributions on taxpayers will increase to 35% of GDP according to Portugal’s State Budget for 2020.

Tax revenues will rise from 25% of GDP this year to 25.2% in 2020, corresponding to €54,844 million.
Social security contributions should increase from 9.7% of GDP in 2019 to 9.8% in 2020, the equivalent of €21,358 million.
All told, the tax burden in Portugal should stand at 34.7% of GDP this year after a high of 35.4% in 2018 while next year the burden will rise to 35% of GDP.
The report that accompanies the State Budget for 2020 shows that tax revenues should increase by 3.9% in 2020 compared to this year while net social security contribution revenues should increase by 4%.