This measure, which results from a PS amendment proposal to the State Budget for 2024 (OE2024), was approved during the votes in the specialty with the PSD and PCP voting against, Chega and the Liberal Initiative abstaining and the vote favourable from the remaining parties.
At issue is a measure that determines that the annual declaration that taxpayers submit to the tax authorities must include "all sources of income", namely income subject to exemption tax not included and "income not subject to IRS, when greater than 500 euros, as well as assets held in countries, territories or regions with a clearly more favourable regime".
In justifying the measure, the PS recalls that, in addition to income subject to tax exemption and not included being not reported, certain special rules within the scope of the IRS provide for the exclusion from taxation of certain sources of income (or up to certain income limits), which is why these amounts are not reported in the IRS Model 3 declaration.
"In this way, in order to guarantee greater transparency and rigor in the reporting of income earned by taxpayers who are not exempt from submitting the IRS Model 3 declaration - justified for reasons of tax evasion - and thus demonstrating a real illustration of the entire financial and patrimonial situation, it is proposed the total reporting of all income earned annually, regardless of the applicable tax regime -- i.e. regardless of whether they benefit from an exclusion or exemption regime from IRS".