Municipality of Ponte de Lima gives up more than one and a half million euros in IRS revenue: Gazeta Rural

Local authorities have the right to receive 5% of the IRS funds collected in their municipalities from the State Budget and can choose to return part of it to citizens. The return percentage is between 0% and 5% of the collection, with this percentage being transmitted every year to the Customs Authority in advance of the annual IRS submission deadline.

In this context, of the 40 Municipalities that decided to return the full amount of IRS, Ponte de Lima is among the ten municipalities in the country that will return the most IRS to the population. This value has been increasing from year to year and will represent, in 2024 and according to the forecasts made in the State Budget for next year, the loss by the Municipality of Ponte de Lima of revenue of €1,541,737.00 a year. favor of the citizens. This tax is returned, in the form of a collection deduction, to its residents.

The municipality also decided to “Reduce the IMI rate, taking into account the number of dependents” in relation to the property intended for personal and permanent housing coinciding with the owner’s tax residence, in accordance with article 112-A of the IMI Code – For buildings owned by taxpayers with dependent dependents, this reduction can be €30, €70 or €140 as a result of the number of dependent dependents.

Regarding the low IMI rate practiced in the Municipality, of 0.32%, and according to the value of IMI collected in 2022, the Municipality of Ponte de Lima will waive an approximate amount of 1,554,270.00 in favor of its residents. €, compared to the amount that could be applied at the current maximum IMI rate of 0.45%.

Good management of public money has allowed the Municipality to implement an attractive fiscal policy and offer low prices for services provided to the population, this scenario having a direct relationship with the greater or lesser financial availability of families and companies in each municipality. The objective of this measure is, in addition to trying to increase the settlement of inhabitants and attract new residents, to promote greater dynamics in the local economy and allow greater financial availability for consumption or savings.