Eurozone: Portugal registers 8th largest drop in tax burden
The tax burden in Portugal fell by two-tenths in 2019. The weight of taxes and social contributions dropped to 36.8% of GDP, below the Eurozone average.
Portugal was the eighth country in the Eurozone where the tax burden fell the most last year, with the proportion of taxes and social security contributions falling to 36.8% of GDP, two-tenths less than in 2018, according to data released on Thursday by Eurostat.
The tax burden in Portugal was below the average for the Eurozone and the European Union, where tax revenues represented 41.6% (equal to 2018) and 41.2% (one-tenth decrease) of GDP, respectively.
Belgium was the country where the tax burden decreased the most: it fell 1.2 percentage points to 45.9% of GDP. Greece and France followed, where the share of taxes and social contributions fell eight tenths to 41.9% and 47.4% respectively. In Sweden, the tax burden also fell by eight-tenths, but the Swedes do not share the single currency.
On the other hand, Cyprus was the euro-area countries where the tax burden increased the most: it rose 2.1 points to 35.6% of GDP. Denmark (outside the Eurozone) also saw its tax burden increase considerably, up 1.8 points to 46.9%. Italy saw the third-largest increase, with the rate rising by seven-tenths to 42.6% of GDP.
