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Those who earn minimum wage are exempt from the IRS “with a high probability,” guarantees Costa

Those earning the national minimum wage must maintain their IRS exemption in 2024. This is because the Government plans to update the value of the minimum wage in light of the increase in the value of the minimum wage. It was the Prime Minister, António Costa, who advanced the Government’s intention, contradicting the information provided this Monday by an “Executive source” to Sic Notícias.

In this Tuesday’s debate, in which the motion of censure presented by Chega will be rejected, the prime minister was confronted by Pedro Filipe Soares, of the Left Bloc, about the information advanced this Monday, according to which some workers who earn the minimum Salary would begin to be paid to the IRS, given the increase in the national minimum wage, it would not be possible to increase the existing minimum tax, which exempts taxpayers from filing a return. “2024 will be the first year in which the existence of the minimum tax no longer follows the SMN,” a Government source told Sic Notícias.

But Costa contradicted this idea. Highlighting that the minimum wage is 14 times the value of the minimum wage, he assured that “it is not the Government’s understanding that this situation should be changed.”

“We have set the schedule for updating the minimum wage until the end of the legislature and with great probability we will update the minimum wage in accordance with this increase,” said António Costa. “On October 10 you will be able to check what will be proposed in this matter,” Costa concluded, referring to the presentation of the State Budget for 2024.

Source: Observadora

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