The proposal to set rates (IMI and IRS) for 2016 and to launch a surcharge to be charged in the same economic year was approved at a meeting of the City of Lagos, this Wednesday, September 2nd.
The spill is a local municipal tax that can be levied annually by municipalities, up to a maximum limit of 1,5% on taxable income subject to and not exempt from corporate income tax (IRC) based in the municipality's area.
At this public meeting of the Chamber of Lagos, the launch of a surcharge was approved, to be charged in 2016, applying the rate of 1% to companies with a turnover equal to or less than 150 euros, "as a sign of encouraging the local economy" .
For companies with a turnover of more than 150 thousand euros, headquartered in the Municipality area, the spill rate will be 1,5%.
It was also decided that the revenue collected through this spill will be destined to «continue the requalification and repair of the municipal housing stock and the works in municipal playgrounds».
Another of the decisions taken refers to setting the percentage of variable participation in the IRS of taxable persons with tax domicile in the respective territorial area. The rate of 5% was approved, that is, the maximum provided for in the Law.
The autarchy stresses that this is "a decision similar to what happened in previous years, not only in Lagos but in the overwhelming majority of municipalities in the Algarve, in the sense of not abdicating these revenues, under penalty of worsening their financial situation and making it unfeasible planned investments'.
The Municipal Property Tax (IMI) was also the object of deliberation by the Municipal Executive of Lagos, which approved the proposal to set the rates at 0,8% and 0,39%, respectively for rural properties and urban properties assessed under the CIMI (this reduction can be offset through other revenues).
The Chamber highlights its "effort" to reduce the IMI rate (from 0,40% to 0,39%), to "try to alleviate the tax burden of lacobrigenses, at a time when the economic and financial situation of families remains difficult ».
The proposal for IMI increases and decreases was also approved in terms identical to the past, which translates into the maintenance of increases (to triple) of vacant buildings (empty or unoccupied) for more than a year and of buildings in ruins in the Area of Urban Rehabilitation of the City of Lagos.
In the opposite direction, a 30% reduction will also be applied to properties intervened in that Area and with usage licenses issued between August 1, 2014 and May 31, 2015, not covered by the IMI exemption.
The municipality clarifies that "all these decisions were taken on the basis of studies and information presented by the municipality's Technical Financial Unit and by the municipal company Futurlagos".
The decision also considered “the need to increase revenue within the scope of the Local Economy Support Plan (PAEL) and the respective Financial Adjustment Plan (PAF)”. The PAF to which the Municipality is obligated - and which served as support and foundation for the application to the Local Economy Support Plan (PAEL), allowing access to extraordinary financial means for payment of debts to suppliers - determines the maximization of revenues, namely regarding local taxes and fees.
All these deliberations will now be submitted for approval by the Municipal Assembly.
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