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5% IRS Return

The Socialist Party reacted today with “astonishment,” and “rejoicing,” at the implementation of a measure proposed by it to the Funchal City Council, despite the fact that the proposal was originally rejected by the PSD. At stake is the return of the 5% IRS to the citizens.

The leader of the PS Municipal Group, Andreia Caetano, recalls that, at the Municipal Assembly on the 27th of September 2023, the socialists presented a proposal for the return to Funchal of the entire 5% of the IRS on 2024 incomes, to which the Municipality is entitled, a measure that would have practical effects in 2025 that was “inexplicably rejected by the PSD.”

The socialists stress that the measure put forward “comes at a good time, as it is extremely important for the lives of Funchal residents, even more so at a time when families are experiencing extreme economic difficulties that affect the daily lives of most citizens while the municipal budget gets fatter with each passing day.”

This, they said, makes sound economic sense to all those involved.

Samantha Gannon

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