If the increase in the minimum wage proposed by the Government is maintained, from €705 to €750 in 2023, the level up to which the Portuguese are exempt from IRS income tax should soar by €630, from €9,870 to €10,500 per year in 2024, according Dinheiro Vivo.

If the government applies the 7.7 percent increase in the minimum wage, this value would rise to €759, nine euros more than expected, which would raise the exemption threshold to €10,629.9.