Saturday , June 25 2022

Don’t get lost in OE2022. Know what will change and what will move your wallet



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Internal Management

  • The government foresees 2,500 new elements for the security forces and confirms an increase of 69 euros per month in the risk subsidy (+ information).

Alcohol, cigarettes and cars

  • Alcohol and Alcoholic Beverages (IABA) and tobacco (IT) taxes will increase by 1% in 2022. In addition, Vehicle Tax (ISV) and Single Vehicle Tax (IUC) will be updated in 2022 at the inflation rate (1%). ) (+ info).

supports

Government:

  • allocates 30 ME to expand subsidy to support informal carers nationwide. The status can be applied anywhere in the country, but residents of one of the 30 municipalities that created the pilot projects had access to the subsidy (+ information).
  • It plans to extend the validity of the Regression Program, which provides tax incentives to immigrants wishing to return to Portugal, until 2023 (+ info).
  • will continue support for low-emission vehicles, including conventional or electric cars and motorcycles, and bicycles (+ info).

Companies

  • Companies will no longer have to make Special Payments (PEC) on Account (+ info).

public function

  • The 2022 Budget proposal approves 0.9% salary increases for most civil servants next year (+ info).

IRS

  • The existing seven IRS tiers will rise to nine – a split from the existing 3rd and 6th tiers (see tables here).
  • The government will gradually extend the IRS deduction attributable to second and subsequent children until the age of six years of increase. Thus, “by 2023, the tax relief per dependent from the second child up to the age of six will increase from 600 to 900 euros”, “in 2022 an increase in the deduction value from 600 euros to 750 euros” and in 2023 from 750 euros to 900 euros Further increase in euro” (+ information).
  • The IRS Jovem benefit no longer has an income cap and covers green receipts (+ info).

VAT

  • The government has harmonized the filing and VAT payment dates, whether on a monthly or quarterly regime. According to the OE2022 proposal, the delivery and payment of VAT is made until the 20th and 25th of the relevant month for both monthly and quarterly taxpayers.

pensions

  • Pensioners who receive up to about 658 euros will receive an extraordinary increase of 10 euros from 1 August. The extraordinary update “performed at a value of 10 euros per pensioner whose total pension amount is equal to or less than 1.5 times the social support index (IAS)” constitutes the budget proposal (+ information).

Minimum wage

  • The national minimum wage, which was 665 euros, will increase again next year to reach 750 euros in 2023 (+ info).

Health

  • The 2022 State Budget proposal envisions an increase of over €700 million in the global amount for the Health sector, with a total consolidated spending allocation of €13,578.1 million. The document also foresees the construction of four hospitals by 2023 (+ info).
  • The government proposes the creation of 10 new mental health responsibility centers to be integrated into National Health Service hospitals for 2022 (+ information).
  • The VAT rate of disinfectant gels and masks has been reduced in 2022 (+ info).

FAUCET

  • According to the report accompanying the 2022 State Budget proposal, the government will inject 1,988 million euros into TAP this year and in 2022, continuing the 990 million euros planned for this year (+ info).
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