SALARIU MINIM PE ECONOMIE UPDATE
The update to the minimum wage in Portugal, should be accompanied by a series of support measures for employers, including possible tax measures. The measure was confirmed and communicated by the Executive to trade unions and employers at a social consultation meeting at the beginning of December 2020. To accompany this decision to increase minimum wage by 30 euros next year, the Government also plan to create support aimed at compensating companies for the increase in the Single Social Tax (TSU), resulting from the increase in the guaranteed minimum wage, which may reach 74 million euros.
The national minimum wage in Portugal (SMN) will rise to 665 euros per month before tax in 2021 and is based on 14 payments. What is the minimum wage in Portugal? Mimimum wage in Portugal stood at 635 euros in 2020, and the good news is that it is set to rise in 2021, however, it is significantly lower than other European countries.
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