The Madeiran government announced that it will follow the Azores in reducing IRS withholding tax, following the path outlined by Montenegro's autonomous region.
Withholding tax will be reduced, maintaining the 30% differential in relation to mainland Portugal up to the ninth bracket of IRS.
This decision is part of the autonomous fiscal powers of the autonomous regions, which have the authority to define their own rates for personal income tax.
With this measure, Madeira aims to continue attracting residents and businesses to the region, competing directly with the fiscal benefits offered by the Azores.
