Council of Ministers approves reduction in IRS rates up to the 8th bracket

The Prime Minister announced

The Council of Ministers today approved the proposal that reduces IRS rates up to the 8th bracket, the Prime Minister announced, indicating that the measure represents a total tax reduction of 1.539 million euros compared to 2023.

«A bill was approved that will be sent to the Assembly of the Republic today» with a «decrease in IRS rates up to the 8th income bracket», said Luís Montenegro at the end of the Council of Ministers.

The Prime Minister also stated that this “decrease estimated by the Government has an overall value that represents a reduction of 2023 million euros compared to 1.539”.

The Government's proposal will now be sent to parliament, which has already scheduled the debate for April 24th.