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Increase in Rental Tax Deduction

The PS party's proposal to raise the maximum deduction for rent expenses in income tax returns to €800, up from the current €600, was generally approved in the Assembly of the Republic.

The proposal passed with opposition from PSD and CDS-PP, while other benches supported it. The aim is for the measure to take effect from January 1, 2025.

The focus is on raising the deduction for rent in IRS from €600 to €800. The PS suggests a progressive increase, reaching €800 "gradually until 2028," with 50% in 2025, 25% in 2026, and another 25% in the following year.

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