7
Feb
2005

92% of wealthy have vanished

In a stunning revelation made this week, it has emerged that the number of wealthy families in Portugal have plummeted by 92 percent in the space of just three years. According to statistics published by the nation's fiscal administration, the number of families who annually earn 250,000 or more, dropped from a figure of 26,802 four years ago to a mere 2,144 in 2003. Specialists speaking to JN Negcios this week, have suggested these figures are indicative of tax evasion on a large scale, as the economic crisis, on its own, cannot justify this unprecedented plunge in earnings.

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