The Revenue and Customs Administration (AT) will begin paying out an additional guarantee for children this Thursday, Revenue Minister Nuno Santos Felix told Luza.
“AT’s Childhood Guarantee Payment starts this Thursday, which is in line with the statutory deadline,” said Nuno Santos Felix.
This is a supplement to children and young people receiving family allowance, up to and including the age of 17, who, between the annual amount of the family allowance and the deduction for collection by dependents under the IRS, do not receive a total annual value of 600 euros.
As such, this measure aims to compensate those families who, due to their income, do not have sufficient IRS income to take full advantage of the €600 deduction due to each dependent.
According to the legislation that defines this measure, the calculated amount of the allowance is paid “in accordance with the rules of deduction for collection in the IRS per dependent”.
“The amount of the allowance awarded consists of the positive difference calculated between the total annual amount of €600 and the amount of the family allowance awarded that year and the corresponding deduction for collection by dependents calculated in the IRS calculation carried out in the year the allowance is paid against the income statement and losses for the immediately preceding year,” the diploma says.
Payment is made by bank transfer, with AT using the IBAN associated with the taxpayer. In case of insufficient information or invalid IBAN, the transfer order is repeated monthly for the next six months.