View of the Portuguese parliament on the day of the vote on the 2024 state budget bill on final reading amid Prime Minister Antonio Costa's resignation, in Lisbon, Portugal, November 29, 2023.
REUTERS/Pedro Nunes/File Photo Acquire Licensing RightsLISBON, Nov 29 (Reuters) - Portugal's parliament on Wednesday extended tax breaks for foreign residents until the end of next year despite criticism that the scheme has stoked housing prices to levels unaffordable to many Portuguese.
Official data showed that over 74,000 people had benefited from the scheme by the end of 2022.
Last year the tax exemptionscost the state budget more than 1.5 billion euros ($1.65 billion), an annual increase of 18.5%.
($1 = 0.9106 euros)Reporting by Sergio Goncalves Editing by Catarina Demony and Gareth JonesOur Standards: The Thomson Reuters Trust Principles.
Persons:
Antonio Costa's, Pedro Nunes, Antonio Costa, Sergio Goncalves, Catarina Demony, Gareth Jones
Organizations:
REUTERS, Rights, Socialist Party, Socialists, Thomson
Locations:
Lisbon, Portugal, Rights LISBON