According to the new IRS table presented in the Council of Ministers, households in the second and third tiers, which earn between 7,702 euros and 16,472 euros annually, will benefit the most, accounting for a reduction of 3.5 percentage points (second bracket) four percentage points (third bracket) of your IRS rate, going from 26.5% in 2023 to the current 22.5%.
Low income families to benefit from tax relief
The Government's proposed law that amends the Personal Income Tax Code (IRS) will provide tax relief of 1,539 million euros compared to 2023, according to estimates by Luís Montenegro's Executive, and 97% of this tax relief will benefit families up to the eighth tier of the tax tables.
By TPN/Lusa, in News, Portugal, Business · 19 Apr 2024, 16:05 · 0 Comments