OTOC: IRS and VAT revenues “is overblown” and surcharge return is “pure electioneering” – Digital Journal

The chairman of OTOC, Azevedo Domingues, said today that the surcharge for the return of the ad is “pure electioneering”, since the evolution of the personal income tax and VAT revenues “is overblown” because there is still reimbursements for making the two taxes.

The Government announced today that it may return to taxpayers EUR 100 million in fiscal IRS surcharge credit in 2016 if the 4.2% increase in tax revenue from personal income tax and VAT remains on set this year.

“Come say there is an increase that allows this return is pure electioneering. It deceives people. Is not serious, is not honest “, said today the president of the Order of Chartered Accountants (OTOC) Domingues Azevedo, told Lusa News Agency.

At stake are missing repayments do in headquarters taxes on value added tax (VAT) and on personal income (IRS) that says the president, “immediately undertake” the amount of the refund.

According to the synthesis of budget execution , revenues from VAT amounted to 7.3062 billion euros and the IRS settled in 5.4732 billion euros. The state collected in conjunction with these two taxes 12,779,400,000 euros, representing an increase of 4.2% over set to 12.2618 billion euros recorded in the same 2014 period.

” VAT revenues have been inflated because it has been delayed for purely bureaucratic reasons, the VAT refund, “said Azevedo Domingues, illustrating that” if we have a revenue of one million when deduce that revenue reimbursements that are needed make a low income. “

The synthesis of budget execution shows that by June the state repaid least 262.7 million of VAT compared with the same period of 2014. This is because in late December, was issued an order establishing that all reimbursements “shall also be dependent on the communication of all issued invoices and the absence of differences between reported values.”

But the IRS if repayments are to be done, the president says: “At this point remains to reimburse amounts of many. Suffice to say that the second phase of tax, those who delivered the Annex C [organized accounting scheme] still do not know how much they will receive, because these accounts are not made. “

In 2015, the government maintained the 3.5% surcharge on personal income tax applied to income amounts in excess of the national minimum wage, introducing “a tax credit that will allow reparation, partially or totally, the surcharge collection for the year 2015″.

However, this relief is dependent on VAT and IRS revenue, since the tax credit calculation formula considers the difference between the sum of the IRS revenue and VAT effectively charged (and cleared in the synthesis of budget execution in December 2015) and the sum of revenue from the two taxes estimated for the year as a whole in the State Budget.

This also means that only in 2016 is that the taxpayer will know if the surcharge paid during the year was or not desagravada

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