FinMin Vito Gaspar said the average rate of income tax will be increased by 2% to 11.8%, with a one-off surcharge of 4% in 2013 in order to offset falling revenues hit by the country’s ongoing recession.
(Gaspar has kept Government forecasts unchanged with a slump of 3% in GDP in 2012, and a fall of 1% next year)
This is likely to spark protests and possibly undermine consumer confidence , and has now led the country’s largest union to call for a general strike on November 14th
More….. UK’s Guardian
