On Air Now

Upcoming Shows

Program Schedule »

Tune in to Listen

1590 AM Coldwater, Michigan 95.5 FM Coldwater, Michigan

Weather

Current Conditions(Coldwater,MI 49036)

More Weather »
54° Feels Like: 54°
Wind: E 5 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Mostly Sunny 71°

Tonight

Mostly Clear 46°

Tomorrow

Sunny 71°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

Portugal announces sweeping tax hikes

LISBON (Reuters) - Portugal will raise taxes across the board to ensure the country collects enough revenues to meet tough budget goals under its 78-billion-euro bailout, Finance Minister Vitor Gaspar said on Wednesday.

The country will raise income taxes to an average rate of 11.8 percent from 9.8 percent currently and slap a 4 percent income tax surcharge in 2013. It will also launch new taxes on capital and luxury property already this year, Gaspar told journalists.

He said the government will also propose a tax on financial transactions and continue to cut spending, adding that in 2013 all additional austerity measures will amount to 3 percent of gross domestic product.

(Reporting By Sergio Goncalves and Daniel Alvarenga, writing by Axel Bugge)

Comments