Tuesday, October 11, 2016

Riding a bus can give tax benefits – the Renaissance (press release)

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The Government is preparing a set of tax incentives for taxpayers that use the public transport. The news is the advanced Monday by the newspaper "público".

The model, says the newspaper, is not closed, but the objective is that the cost of tickets or passes can be deducted on the IRS (Income Tax of Natural Persons), as is the case with education expenses.

The measure will meet the demands of the Greens, which also supports the Government but is constrained by the tax expenditure that will generate, once the budget margin is reduced.

In an interview to the "Jornal de Negócios", the secretary of State of Parliamentary Affairs ensures that the State Budget for 2017 predicts “a new reduction in the level of taxation,” and admits increases of pensions above inflation.

“We will have a new reduction in the level of taxation and this is important when we systematically let’s listening to news or leaks, a few confirmed or not, about raising taxes – a frightening permanent, when in 2016 the level of taxation was reduced, and in 2017 the same will happen”, ensures Pedro Nuno Santos in the interview published on Monday.

Pedro Nuno Santos points to the case of the VAT recovery, which was reduced to 13% in the second half of 2016, and in 2017 will keep the incidence throughout the year.

The secretary of State reaffirms the goal of “a tax system more progressive”, admitting that the “disturbed at the levels of IRS are a goal for this legislature”, but not going to happen now in 2017.

As for the tax on the heritage, Pedro Nuno Santos says that the process is “nearing completion” and reaffirms the possibility of the pensions they increase “above inflation”.


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