The estimate is based on the budget execution in the first half but still depends on the changes in revenue in the second half of the year.
The Government announced today as the expected return IRS surcharge in 2016, based on the budget execution in the first half, said Thursday Prime Minister Pedro Passos Coelho, told TVI.
“This Friday (…) together with the budget execution report will be released the value, “said Passos Coelho, assuming that the return may be 0.5%. “It will be released tomorrow and I believe that the conditions in the second half remain can return a rough part of it,” he said.
Since this morning, Pedro Passos Coelho spoke again on the subject, to say that “with the data of the first half, I think there is a good indication that in 2016 there will be really a part of the surcharge that people may receive as a tax credit.”
The value depends on the evolution of the IRS Revenue and VAT, since it is the surplus compared to the budget will be what will be returned. Legally, the promise does not bind the next government.
The IRS surcharge is calculated by applying 3.5% on the taxable income that exceeds the annual minimum wage (not to be confused with the monthly retention formula the surcharge, which is different, and it is only provisional). And the taxable income, in turn, corresponds to the gross income minus the deductions specific to each category of income.
An employee with a gross income of 1,000 euros, for example, paid annual surcharge of 98.9 euros enuanto who earns 1,500 euros paid 343.9 euros per year. For a salary of 2,000 gross a surcharge is 588.9 euros a year.
When Maria Luís Albuquerque admitted on April 1 phasing out the surcharge in four years, the Business made simulations that reveal that a reduction of 0,875 points would allow a worker with an average salary of 1,100 euros to pay less 37 euros next year.
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