Managing partners and company directors in Portugal declared an average of 1,879.51 euros per month to Social Security in 2025, only 91.26 euros more than salaried employees, Executive Digest reports.

According to official data, that represents a difference of about 5 percent between the two categories, but experts warn of the possibility that real incomes are higher than those declared.

Social Security Statistics show that there were 329,140 members of statutory bodies (MOE) at the end of 2025, equivalent to 6.7 percent of the total number of people contributing to Social Security.

Alternative forms of income

One explanation for the small difference between managers' remuneration and other employees could be a result of how managers receive income from companies.

Some managers prefer the distribution of dividends, instead of salaries, which are subject to a different tax regime.

Another possibility involves the use of company expenses to cover personal costs, including allowances, mileage, travel, and meals.

Concerns over underreporting

In statements to Expresso, the president of the Tax Workers' Union (STI), Gonçalo Rodrigues, warns that underreporting is not limited to managers. "Managers may have more leeway, but both the salaries of executives and the salaries of workers are underreported," he states. Rodrigues also points to limitations in the Tax Authority's oversight, which hinder the detection of such practices.

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