Câmara de Lagos will charge less IRS in 2020

Câmara de Lagos will keep 1% of the taxable income of companies with a turnover of more than 150 euros

At its last meeting, on September 18, the Lagos Council approved the reduction of the IRS participation rate from 4,5 to 3,5%, which will allow taxpayers to pay this tax back «between 250 and 300 thousand euros », according to the accounts made by the Câmara de Lagos.

The decrease in the IRS participation rate, which, according to the approved proposal, will drop from 4,5 to 3,5%, «is a measure that is directly reflected in the budget of families, since the Municipality does not need 1,5, 5% of the participation due to him (XNUMX%), reverting to the taxpayer as a deduction from the IRS collection».

“In practice, this decision, to be also approved by the Municipal Assembly, will allow the return to citizens of an amount between 250 and 300 thousand euros. This measure applies to the 2020 income of taxable persons with tax domicile in the territorial area of ​​the Municipality of Lagos and will have an effect on the revenue for the year 2021”, added the Câmara de Lagos.

Regarding the Municipal Property Tax (IMI) rates, the framework applied in 2018 is maintained, with 0,8% for rural properties and the continuity of 0,35% for urban properties assessed under the terms of the CIMI, rate that will apply equally in all parishes of the county.

"The proposal to maintain the rate at 0,35% - which, despite everything, is below the maximum that the law provides (0,45%) - is justified by the signs of decrease of another important source of revenue for the Municipality: the Municipal Tax on Real Estate Transactions (IMT)” justified the municipality.

Also in this context, the policy of incentives for the rehabilitation of the built heritage in the Urban Rehabilitation Area of ​​the City of Lagos (ARU) will be continued, with the increase to triple the IMI rate for buildings vacant for more than a year and for the buildings in ruins, and with a reduction of 30% for the intervention properties. On the other hand, the 20% reduction (maximum value that the law provides) of the rate to be applied to urban properties rented for housing is maintained, a measure that aims to stimulate the private rental market.

Benefits for households with dependent dependents will continue, the reduction varying depending on the number of dependents (20 euros for one dependent, 40 euros for two and 70 euros for three or more dependents).

At the same meeting, "it was decided to launch in 2019 a surcharge of 1% on taxable income, to be charged in 2020 to companies with a turnover exceeding 150 thousand euros and headquartered in the municipality's area. Companies with a turnover equal to or less than 150 thousand euros will be exempt, as a sign of incentive to the local economy». With this, the municipality estimates to collect 565 euros.

In this case, the proposal, which is justified by the City Council of Lagos «with the high number of interventions (projects and works) indispensable to continue promoting the development of the Municipality, to be carried out next year and which do not allow, despite the recovery the financial situation of the municipality in recent years, to dispense with this source of funding».

The municipal fee for rights of way was also set at 0,25%, which is charged to electronic communications operators.