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Portugal’s richest 1,000 pay nearly no tax

yachtHaving spent seven years at the head of the Directorate General of Taxation, José Azevedo Pereira gave a rare interview to SIC-Noticias.

The conclusion drawn from the conversation is that the country’s taxation rules, far from being equally applied to all citizens, are in fact part of a politically manipulated system that favours Portugal’s already wealthy families.

Portimão Museum's hidden Rembrandt

rembrandt2A painting representing a biblical scene was purchased by the Museum of Portimão at auction in 2006 for €780.

A researcher says it's a Rembrandt but the museum is not so sure.

Faro airport rent-a-car fire, 27 vehicles written-off

fireA fire at a rent-a-car depot near Faro airport has destroyed 27 cars and caused damage to many nearby vehicles, according to the police.

Emergency services were alerted at 02:51 and vehicles from the fire service in Faro and Loulé soon were on the scene as was the GNR.

Albufeira flood payments 'by the year end'

albufeira2MPs and Albufeira council’s mayor today expressed their intention to do everything possible to help those affected by the November 1st floods, including pay-outs.

A group of MPs from the Environment Committee visited Albufeira today, leading its chairman Pedro Soares to comment, "The emergency fund to help resolve these situations is underway."

One in three Portuguese shop online

6208aThe number of people in the EU who are buying items online has continued to rise, reaching 53% in 2015, up from an average of 30% in 2007.

This means that one out of every two EU residents aged between 16 and 74 ordered goods or services on the internet this year.

Banif shares in meltdown

banifShares in Portuguese bank Banif dropped another 40% today after TVI 24 reported that the government was planning a rescue for the floundering business.

Last Friday there was a surge in the share price when the Madeiran bank’s management announced it was looking for a ‘strategic investor’ to take over the taxpayers’ bloc of shares.

Gulf persists in EU purchasing power

mercedesThe measurement of ‘actual individual consumption’ as charted by Eurostat shows the material welfare of households.

The widest disparity was found to be from Bulgaria at the lowest end where households had access to a mere 51% of material goods in the EU to cushy Luxembourg with consumption soaring 41% above the EU average.

Algarve motorcaravanning scheme launched

motorhomesilvesfinedThe Algarve now has a network of authorised motorcaravan sites with the launch of the Algarve Motorhome Support Network (RAARA).

The network was launched in Espiche last week and the tourist board has produced a leaflet for travellers which lists the parking sites and offers some useful hints.