PCP proposes new IRS step with a rate of 56% for high yields

O PCP announced today that it will propose the creation of the tenth tier of the IRS with a rate of 56% for incomes exceeding EUR 250 thousand and increase the specific deduction to EUR 5672.

These proposals will be discussed and voted on in the discussion on the State Budget Speciality for 2027 in the Assembly of the Republic and were presented by the parliamentary leader of the CFP, Paula Santos, at a press conference.

The chairman of the PCP bench considered that the proposal for a government budget, which has already been approved in Parliament in general, has “the mark of tax injustice”, pointing out that “more than 72% of tax revenue is borne by VAT and the IRS today”.

“ In other words, it is who works and has worked to support the bulk of taxes in the country, while capital income sees its contribution increasingly reduced, and the IRC is expected to be the only tax revenue to decrease next year. Indirect taxes gain more and more preponderance, representing 57% of total revenue. They are regressive taxes, which penalize more those who have less, paid essentially by those who work and worked ", justified.

Faced with this framework of “fiscal injustice”, Paula Santos said that the Communist bench will insist on the fixing of VAT on electricity, gas, telecommunications and food goods at 6% and, on the other hand, will defend the replacement of 21% of the IRC rate and the elimination of the tax benefits foreseen in the IRC that have an estimated value of around €1886 million.

“ We will propose the introduction of a special 35% rate in the stamp tax on the release of capital into tax havens and, on the other hand, we also move forward with measures aimed at the greater progressivity of the IRC ", said the parliamentary leader of the CFP.

In the IRS, in addition to the creation of the tenth echelon, the CFP will defend the compulsory inclusion of all incomes when they reach more than EUR 89995, “thus ensuring an important tax revenue and preventing speculative income from benefiting from lower tax release rates than labour income”.

“ At the same time, we propose an increase in the value of the specific deduction – which has been frozen for a decade – for the EUR 5672 instead of the current EUR 4587.09 measure that benefits labour income up to the middle of the sixth step (wages up to EUR 3000)”, he said.

In the discussion and voting phase of the Specialty Budget, the CFP will also have proposals for the elimination of autonomous taxation for the first car of micro and small enterprises and for the possibility of adopting cash VAT for all micro and small enterprises.

In this area, the Communists want the “full implementation of the intermediate rate of VAT for all restoration activity” and, on the other hand, “measures to combat real estate speculation as the contribution on Real Estate Investment Funds”.

Paula Santos also left a challenge to the Government: “Instead of launching new PPP (Private Public Partnerships) on the highway, railway or health, you must redeem these concessions.”.

“ We are at the right time to do so because the existing contracts (road PPPs) will all end by 2035. It is recalled that in addition to the rents paid to them every year, the financial rebalancing requests that already amount to EUR 2388.2 million, plus EUR 1140 million more than last year,” he added.