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Even without the approval of the State Budget, the New Year brings updates to prices for transportation, food, rents, as well as changes in wages and taxes. Speaking to Multinews, Cátia Morgado Ascenso, Associate of CCA’s Tax Department, explains what changes or not in taxes from January 1st, 2022.
"At the start of 2022, we will certainly not have changes in IRS levels and rates. The 2022 State Budget proposal provided for the splitting of the third and sixth income brackets, with a rate reduction for the lower part of these same brackets, so that there would be 9 IRS brackets (which would allow, within the limit , a slight tax relief)", nevertheless, "since the State Budget proposal for 2022 has not been approved, for now we will maintain the 7 IRS brackets and rates form 14.5% to 48 %, which are in force in 2021. The solidarity supplements applicable to income above 80 thousand euros (2.5%) and 250 thousand euros (5%) are also maintained", underlines the lawyer.
With regard to changes in the prices of soft drinks, Cátia Morgado Ascenso explains that "the State Budget proposal for 2022 actually provided for an increase of around 1% of this tax, however, since it was failed, the rates of 2021 shall remain in force".
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