The Prime Minister announced today that the government will approve a bill next week to lower personal income tax rates up to the eighth bracket, representing an overall reduction of around 1.5 billion euros.
The announcement was made by Luís Montenegro, at the opening of the debate on the program of the XXIV Constitutional Government, where he said that, out of respect for parliament, the executive will try to present the proposals to the country “whenever possible” before the deputies.
“And I want to start this procedure today and now by announcing a series of decisions scheduled for the Council of Ministers in the coming days and weeks,” he said.
“Firstly, next week we will approve a bill that amends article 68 of the Personal Income Tax Code, introducing a reduction in personal income tax rates on income up to the eighth bracket, which will result in an overall reduction of around 1.5 billion euros in taxes on Portuguese workers compared to last year, especially felt by the middle class,” he said.
Secondly, he announced, a program will be launched “soon” to get the state to pay within 30 days, under which a current account will be created initially between the Tax Authority and companies, which will then be extended to the entire central administration.
