The new moderate right-wing Portuguese government announced on Friday,General reduction in taxes», thanks to a tax cut of more than 1.5 billion euros in income tax compared to last year. This is amazing “General reduction in income tax” applies to “To workers and retirees», Prime Minister Luis Montenegro noted during a press conference following the Cabinet meeting. It's about “The first phase of the tax cut promised to the Portuguese», specified Luis Montenegro, adding that he could enter into «Effective in June or July», after it was approved by Parliament.
The government is planning further tax cuts, especially for those under 35, in order to encourage youth employment. Luis Montenegro, who invested in early April, also announced a reduction in corporate tax from 21% to 15% within three years. The goal is to beA family-friendly, investment- and employment-friendly country with greater social justice“, emphasized Luis Montenegro. The new executive authority headed by Luis Montenegro, which won last month's early legislative elections by a very narrow margin over the Socialist Party, does not have an absolute majority in Parliament, which reduces the room available to it to maneuver.
The opposition parties immediately reacted by pointing out that a large portion of this tax break was already provided for in this year's state budget voted on by the Socialists. “Our reform has allowed tax savings of €1.3 billion, and now there is another €300 million“But for the Portuguese”The gains are very small“, explained PS leader Pedro Nuno Santos, adding that he had to analyze this announcement.”In more detail“.
