During a press conference in parliament, PCP deputy Alfredo Maia argued that approving this set of measures in the State Budget for 2026 would positively impact the deficit primarily due to an increase in tax revenue collected by the state.
“These proposals would allow the state to collect more revenue with greater tax justice, equipping it with means and resources to address issues affecting workers’ lives, retirees, and the public, while simultaneously combating the systematic favoring of economic groups,” stated Alfredo Maia, elected deputy from Porto.
Regarding economic groups, PCP proposes restoring the corporate tax rate to 21%, and the progressiveness of corporate tax to 12.5% on the first €15,000 of taxable income, maintaining the current rate of 15% on taxable income over €15,000 and under €50,000.
They also propose increasing the state surcharge for large companies with taxable profits exceeding €50 million annually, corresponding to 5% of profits above this amount. Furthermore, the PCP aims to ensure all profits generated in Portugal are taxed under corporate tax and to revoke “tax benefits for economic and financial groups.”
According to this party’s calculations, if these measures are not adopted, the state could be deprived of €1.8 billion in revenue.
The PCP also proposes “a 0.8% tax on movable property (stocks, bonds, bank deposits, and other financial products) valued at over €1 million, which is currently untaxed in Portugal”—a measure that “would collect €500 million in taxes.”
In compensation, the communist group proposes updating the specific IRS deduction to €5,424.
“Given the progressiveness of the tax, it covers incomes up to the sixth bracket but has a more significant impact on low and middle work incomes,” indicated Alfredo Maia.
The communist group also proposes mandatory inclusion of capital and property income for taxpayers with taxable income exceeding €83,696 annually and the creation of the 10th IRS bracket for incomes over €250,000.
It also supports integrating the additional solidarity rate (TAS) already in effect for incomes over €80,000 into the IRS structure, increasing the applicable rate by three percentage points. Conversely, the communists demand the update of taxable income amounts under IRS to 4.6%—rather than 3.51% as the government plans.
To benefit families with lower incomes, the PCP seeks to set a 6% VAT rate for all food products, electricity, natural gas, bottled gas, and telecommunications, as well as to eliminate “double taxation” under the ISP (Tax on Petroleum Products).
Regarding micro and small businesses, Alfredo Maia highlighted that the PCP Parliamentary Group has a proposal for an “extraordinary regime of a 15% relief on autonomous taxations related to vehicles and exemption for the first acquired vehicle.”
Conversely, in combating tax evasion, the PCP intends to advocate for a special tax of 35% on transfers to offshore accounts.
Beyond the fiscal domain, the communist group demands the state’s reversal of public-private partnership contracts and the “cancellation of the TAP privatization process.”
