The October 6 legislative elections are shrouded in uncertainty about the parliamentary configuration that will result from the voting and the necessary agreements to form a government, but there is something voters can be assured of: regardless of the winner, most workers and pensioners in Portugal will feel a reduction in taxes payable with the relief of the IRS.
The Economic Journal begins this week with an analysis of the economic aspect of electoral programs. And in the tax chapter, reducing the tax burden on those with medium or low incomes achieves an unusual convergence of the entire parliamentary spectrum. If the party – or the set of parties – that forms a government fully accepts the electoral proposals, the tax will go down for most families in Portugal.
The PS, which is leading the polls, promises to "continue to increase the progressivity of the IRS" and that the measures to be taken "should be aimed at easing the middle class fiscal effort."
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