Finance Minister Miranda Sarmento admitted this Wednesday that she is considering updating specific allocations in the state budget for 2025 (OE2025) as a way to reduce the IRS “those who work.”
“Renewing the special assessment is a tool, and it is a tool that could be considered in Budget 2025 along with a rate cut to lower the IRS for those who work,” the minister said.
Miranda Sarmento spoke at the parliamentary debate on the government proposal, which would reduce IRS rates to level 8, in response to a question from PCP panel leader Paula Santos.
In addition to the government’s proposal, at this Wednesday’s plenary discussion, IRS reduction initiatives presented by various opposition parties, which include various solutions to reduce rates affecting income groups, as well as updating specific deductions and even strengthening housing deductions.
This particular deduction has been frozen since 2015 at €4,104 – and wages where social security contributions or equivalent are higher take this amount into account – with PCP and BE proposing to increase this €4,104.
During the debate, Miranda Sarmento was also asked about when he would proceed with the reform of the IRS Jovem and the salary supplement (exemption from the IRS and contributions equivalent to the 15th month’s bonus), but the minister only said that the measures are included in the government’s program for 2025 year, and the executive branch will try to “do this as quickly as possible and within the budget they have.”
Author: Lusa
Source: CM Jornal
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