Ouch! Social Security pockets €1.29 billion from foreign taxpayers during pandemic
Photo: FILIPE LIMA/OPEN MEDIA GROUP

Ouch! Social Security pockets €1.29 billion from foreign taxpayers during pandemic

2021 saw immigrants and expats make up 10.1% of Portugal’s taxpayers

In the pandemic years of 2020 and 2021 Social Security pocketed a total of €1.29 billion from foreign taxpayers.

This is a record, says Público – due to the increasingly number of foreign residents registered in this country.

By 2021, ‘immigrants’ (which include ‘expats’) made up 10.1% of taxpayers contributing to Portugal’s economy.

According to the Annual Statistical Report 2022 of the Migration Observatory this means that 475,892 foreigners are paying into the system, which even during the ‘peak’ of Covid saw so much in the way of cash flowing into Social Security – €802.3 in 2020, €968 in 2021

“In short”, says the report: “foreigners living and working in Portugal have “an important role” for Social Security, namely in a “relative relief of the system and for its sustainability”, which not so long ago had been in quite some considerable doubt.

natasha.donn@portugalresident.com