Portugal

Insurance promulgates diploma amending IRS code

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 20/10/2026, 19:56:25 UTC.

Briefings

The President of the Republic, António José Seguro, promulgated a decree on October 20, 2026, which converted into law a proposal to reduce the tax rates for the first six income brackets of the Portuguese Individual Income Tax (IRS). This change, approved by the Assembly of the Republic at the beginning of the month, allows the government to lower these rates by between 0.3 and 0.5 percentage points, resulting in reduced withholding taxes for eligible individuals.

Key points

• The President António José Seguro promulgated a decree on October 20, 2026, which converted a parliamentary proposal into law.
• The decree reduces the withholding taxes for the first six income brackets of the Portuguese Individual Income Tax (IRS) by between 0.3 and 0.5 percentage points.

Context

This legislative change represents a significant fiscal adjustment aimed at lowering the tax burden on lower-income earners, a key component of the government's 2026 tax reform strategy.

Limitations

The evidence is limited to the official announcement of the decree's promulgation on October 20, 2026. Specific implementation timelines, future tax rate changes beyond the initial 0.3-0.5 percentage point reduction, and the impact on specific income brackets are not detailed in the provided source.

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