Finance Minister Miranda Sarmento said today that the IRS reduction promised by the government is “more ambitious” than the measure that has been in force since the beginning of 2024, but clarified that it will be around 200 million euros.
In an interview with RTP, Miranda Sarmento clarified that the 1.5 billion euros in personal income tax relief mentioned by the Prime Minister this Thursday, at the start of the debate on the government’s program, will not be added to the 1.3 billion euros in personal income tax relief included in the State Budget for 2024 and already in force.
Confronted with the fact that the “merit of the IRS reduction is largely due to the measure already in force (and taken by the previous government) and that the new reduction that is now going to be approved corresponds to around 200 million euros, Miranda Sarmento confirmed that the additional amount of tax relief will be of that order of magnitude, but claimed for his executive the “merit” of the measure.
“No. It’s to this government’s credit that it’s going to lower [the tax] even more and it’s going to lower it for all income brackets, with the exception of the last one, and therefore cover many more taxpayers,” said the minister.
