The Finance Minister said this Thursday that the reduction in direct taxes is greater than the increase in some indirect taxes and that the absolute relief will amount to 700 million euros.
Fernando Medina spoke at the Committee on Budget and Finance (COF) parliamentary hearing on the State Budget 2024 (OE2024) proposal.
“The reduction in direct taxes far exceeds the ongoing increase in some indirect taxes. The same can be said about VAT, which has a balanced part in terms of social payments,” he said.
A government official responded to Chegi MP Andre Ventura, who accused the government of “brutally” increasing indirect taxes.
Fernando Medina said that thanks to the measures taken, taxes are being reduced “in absolute terms by 700 million euros.”
The responsible minister emphasized that “the budget issue of family income goes beyond simple taxation.”
“If we remove indirect taxes, we are talking about an increase in revenue that will amount to more than 5 billion euros,” he said.
The finance minister’s hearing opens a series of hearings on the budget proposal, which will be debated in parliament on October 30 and 31, with a final global vote scheduled for November 29.
Author: Lusa
Source: CM Jornal
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