Big drop in taxes promised for 2021

Big drop in taxes promised for 2021

With final voting on this year’s State Budget drawing to a close, secretary of state for fiscal affairs António Mendonça Mendes has pledged a “big drop in taxes” for 2021.

Revisions downwards are promised in IRS (income tax) thresholds and other ‘specific deductions’.

Reductions will benefit ‘middle income’ wage earners, said Mr Mendonça Mendes, responding to questions from both BE (Bloco de Esquerda) and PCP (communists).