The SDP is voting on five tax cut proposals this Wednesday, including cuts to the IRS later this year, but the PS has already warned that it will only allow the topic to be examined when discussing the 2024 state budget.
The five PSD proposals, announced by President Luis Montenegro in August at the Festa do Pontal and then detailed in Parliament, would involve cutting the IRS by €1,200 million either in 2023 (this in the form of a recommendation to the government, without being forced by law) as well as in 2024 – by reducing marginal rates in all groups except the last one.
Reducing the top IRS rate of 15% for young people under 35, mandating that IRS rates be updated based on inflation, creating a mechanism for Parliament to decide what to do with tax surpluses, and exempting the IRS and TSU for performance bonuses of up to 6 % of annual base compensation are the remaining proposals that PSD will be discussing and voting on this Wednesday.
Author: Lusa
Source: CM Jornal
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