"When will AIMI's Social Security funds be transferred?" – Jornal Econômico

The PSD accuses the Government of not honoring the word when it sold the Additional to IMI as a tax destined to reinforce Social Security. After the Public Finance Council's (CFP) warning that the value of the IMI surcharge transferred in 2018 to the FEFSS "represents only 37% of the total amount" of revenue generated by this tax, Social Democrats question the Minister of Social Security on the reason to transfer all of the money owed to the Fund and wants to know when the transfer of the missing funds will be regularized.

"What is the reason for the Government not having consigned the totality of the IMI additional to the FEFSS? When will you regularize the transfer of the missing funds to the FEFSS? "Asks the PSD parliamentary group in a question addressed to the Minister of Labor, Solidarity and Social Security who was admitted to Parliament last Friday, May 24.

The question was addressed to the Executive, one day after the release of the report of the CFP on the "Evolution of Social Security and CGA in 2018", where the entity warns that last year were transferred 50 million euros of the revenue from the Additional to IMI for the FEFSS, which "represents only 37% of the amount charged" in that year, which amounted to € 135.3 million.

For PSD deputies, Adão Silva, Clara Marques Mendes and Joana Lopes, this alert reflects that "the government crushes the Portuguese with more and more taxes, creates taxes with the 'cover' of a relevant social purpose and then deviates from most of the money ".

Rye says transfers "will obviously happen"

On the day that the question of the Social Democrat MPs entered the Parliament, the Minister of Finance assured that transfers from IMI to FEFSS will "obviously happen" and are provided for in the State Budget law.

"These transfers are foreseen in the State Budget and will obviously happen," Mário Centeno told reporters after the conference "Portugal: From Here to Where?" Said Mário Centeno, who took place last Friday at the Calouste Gulbenkian Foundation in Lisbon.

According to the official, "the tax is received" and "there are adjustments to the value of the tax that occur from one year to the next", and, according to the law of the State Budget, Finance "will obviously make such transfers."

The day before, on 23 May, the CFP warned that "for the second consecutive year, the amount charged for the Additional to IMI did not fully revert to the FEFSS", adding that, for 2018, "the provisional amount to be transferred is 85 , € 3 million, "which" adds to the € 87 million referred to in the Opinion of the State General Account for 2017 of the Court of Auditors ", which amounts to € 172.3 million.

In effect are two consecutive years of AIMI revenue, the tax that since 2017 has been levied on high-value real estate, and whose income has been assigned to the FEFSS. AIMI earned the state coffers 137 million in 2017 and 135.3 million in 2018, but the government only transferred 50 million in each year.

"Word of the Government is not honored", accuses PSD

"Again, the word of the Government is not honored and a significant part of these funds have been diverted from Social Security," criticize the PSD deputies in the question addressed to Vieira da Silva, recalling that "this tax was sold to the Portuguese as intended to strengthen social security, since the funds collected would be allocated entirely to the FEFSS Fund. "

The PSD stresses that this situation "has been repeatedly denounced" by the Social Democrats who have already requested the presence of the Minister of Labor and Social Security of the Minister Vieira da Silva "in order to present explanations."

The AIMI began to be charged in September 2017 with a rate of 0.7% for those who have a Total Tax Asset Value (VPT) (dwellings and land for construction) between 600 thousand and one million euros and in 1% when this VPT is more than one million euros. In the case of married or unmarried couples, the level of exemption doubles to 1.2 million euros.

Under OE / 2019, the PCP and the Left Block reached an agreement with the Government to create next year a new 1.5% rate on real estate held by natural persons, with a global value above two million of euros. The two parties decided to bring their amendments together with some differences: while the PCP advocated the creation of a new rate of 1.5% for real estate over 1.5 million euros, the Block wanted a rate of 2% for properties with a tax net worth over two million euros.

The amount assigned to the FEFSS corresponds to the net revenue of charges and deductions, which includes the possibility of reducing the amount paid by AIMI to the taxes (IRS and IRC) due for the lease or lodging activity.

In addition to the Additional to IMI, Social Security is also a Social Security tax and, since 2018, a portion of IRC income.

According to CFP, in 2018, the transfer of Social VAT reached 824 million euros, representing an "implicit increase" of 27 million euros compared to 2017.

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