The International Monetary Fund (IMF) warned this Monday that IRS Jovem would lead to a “significant loss of revenue”, deeming its effectiveness in stopping the emigration of young people questionable.
“Preferential personal income tax rates based on age will lead to significant loss of income […]”its effectiveness in curbing youth emigration is questionable,” the IMF said in a note following an Article IV visit to the country to analyze economic developments.
Young IRS, which targets dependent and independent work income (categories A and B, respectively) of people under 35, includes reducing the current IRS rates by one-third, to a maximum of 15%. – for those who receive taxable income up to the 8th grade, that is, 81,199 euros per year.
Author: Lusa
Source: CM Jornal
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