The reduction in IRS on November and December salaries will provide extra gains to Portuguese taxpayers. This measure covers employees and pensioners, including the 6th IRS bracket.
The decrease in withholding tax up to the 6th bracket means taxpayers will have a higher net income in the last two months of the year. This change results from an update of the IRS withholding tables by the Government.
The practical impact of this measure translates into additional amounts on the November and December pay slips. Workers will thus benefit from a temporary increase in available income during this period.
This initiative comes in the context of tax relief policies implemented by the Executive to support Portuguese families. Taxpayers should check the new withholding tables to calculate the exact amount of the additional gain in their salaries.
