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The 2018 Portuguese Budget reduces taxes on workers and raises pensions

The Portuguese Government handed over today its draft of the State Budget for 2018, which includes a reduction of taxes on the income of workers and a rise of pensions, among other measures.

Lisbon, Oct 13 (EFE) .- The Portuguese Government presented today in its Parliament the draft of the State Budget of 2018, which includes a reduction of taxes on the income of workers and a rise in pensions, among other measures.

The document was delivered last Friday in Parliament by Portuguese Finance Minister Mario Centeno, several hours after what had been foreseen.

For the third consecutive year, the socialist government of Portugal opted for some measures to recover income, with a lower In this sense, the draft includes a tax relief on the payment of Income Tax (IRS, equivalent to personal income tax in Spain) for all who In addition, the "surtax", a special tax on income introduced during the crisis that this year has already begun, will be completely eliminated.

For officials, one of the groups most affected by austerity during the crisis, the Executive will put an end to the cuts in paying overtime and thawing the salary increases stemming from promotions, which were paralyzed.

pensioners, who will suffer an extraordinary increase of between 6 and 10 euros in the middle of the year, in addition to the annual update based on inflation.

In the case of companies, the Government will keep the extraordinary contributions paid by the banking, energy and pharmaceutical sectors.

However, the document includes an increase in taxes indirectly, with a new rate on foods high in salt, such as chips and biscuits, and a rise in taxes on sugary drinks, beer, beverages spirits, liqueurs and sparkling wines.

The document, approved Thursday in the Council of Ministers after a meeting of more than 14 hours, should be dealt with in Parliament and The final vote is scheduled for November 28.

This will be the third budget of the Portuguese Socialist Government, which has a minority in Parliament and needs the support of the Marxist Left Block and the Portuguese Communist Party for the proposal to move forward.

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