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Jornal de Negócios - Portugal | Wednesday, January 9, 2013

Portugal afflicted by heavy tax burden

The tax hikes introduced at the beginning of the year mean that the Portuguese are now paying more taxes than the European average, according to a study published by the auditor network KPMG. The liberal business daily Jornal de Negócios fears that the country could collapse under the weight of its tax burden: "The KPMG study is overwhelming: the Portuguese will face a heavier tax burden than the Germans, French, English and Spanish in 2013 - both on income and on pensions. The government is fixing the budget at the expense of the taxpayers (and destroying the country in the process). … Portugal is like one huge tax authority nowadays. In the next cabinet reshuffle Prime Minister Passos Coelho may as well reduce his government to the minimum, trimming it down to just himself as finance minister and his department for taxes and duties. All for the sake of cutting costs, of course!"

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