The President of the Regional Government of Madeira, Miguel Albuquerque, announced that the region will follow the national reduction in IRS (Personal Income Tax) scheduled for November. This measure was previously announced by Prime Minister Luís Montenegro.
Albuquerque explained that Madeira already maintains a 30% differential compared to the mainland for IRS and that the region will make the necessary adjustments to align with this tax relief. He noted that this policy has already been implemented, for instance, with the Young IRS initiative.
According to the president, tax reductions are expected to stimulate the economy, as funds not paid to the state are typically reintroduced into circulation, fostering greater economic dynamism. These remarks were made during a visit to ongoing construction work at the Dr. Ângelo Augusto da Silva School.
