Lusa - Business News - Portugal: Additional tax cuts for under-35s to be unveiled 'in due course' - PM

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Lusa - Business News - Portugal: Additional tax cuts for under-35s to be unveiled 'in due course' - PM

Lisbon, April.19,2024(Lusa) - Portugal's prime minister, Luís Montenegro, said on Friday that the government's proposal for the IRS Jovem special rates of personal income tax (IRS) for people aged up to 35 will be presented "in due course" and that it the measure will have an impact of €1.2 billion in terms of the tax take.
Montenegro was speaking after the end of a meeting of the cabinet that approved reductions in IRS rates beyond those already contained in the state budget for 2024 approved by the previous, Socialist government and in force since January.
"Our proposal [for the Jovem], which we will unveil in due course, does not discriminate in any way on qualifications," said Montenegro. "It applies to all young people up to the age of thirty-five."
He emphasised that it is a measure "different from the one in force" not least because of the financial impact, which he estimated at €1.2 billion.
"The measure is being prepared," he reiterated. "It won't be long before we bring in this measure, which is strategic, and we'll present it in due course."

LT/ARO // ARO.
Lusa

Agency : LUSA
Date : 2024-04-20 10:55:00

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