I just did the math from all my work last year and even only paying myself €1000/month and adding everything up (VAT + Social Security, Salary Tax and other business taxes) for every €1 of profit, I have to pay €0,50 to the government. This is in a small scale business without any employees (just me) and pretty much at break even after all taxes and my small salary.
It's pretty crazy that at this scale 50% of all the money I make goes to taxes.
@hugo it's the same way in the US. The biggest tax breaks go to the biggest earners.
@maryjane yes but I think that has changed. Not completely sure but I think that now there is a way to receive unemployment via recibos verdes https://www.publico.pt/2018/06/05/economia/noticia/proteccao-no-desemprego-dos-recibos-verdes-facilitada-a-partir-de-julho-1833215 but not sure how it works now for “sócio gerente” because you cannot fire yourself :) and only involuntary unemployment will give you access to unemployment support.
"only involuntary unemployment will give you access to unemployment support."
True. I've been out of portugal for the last 1,5 years so i'm not keeping up with all the changes. Was not aware of that changr in recibos verdes. But being your own buissness in portugal sucks, from a tax and social security point of vew.
@maryjane I don’t know how much better or worse it is in other countries but in here it’s not easy especially for micro and small companies :|
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