The 2027 State Budget proposal includes a 50-euro monthly increase for pensioners in 2027, with pension updates potentially extending through 2029. These measures are contingent upon the approval of the budget by parliament.
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Read today’s briefingFinance Minister Joaquim Miranda Sarmento stated that tax relief measures, including updates to IRS brackets in the 2027 State Budget, mean taxpayers are saving hundreds of euros per year compared to 2023. The Minister confirmed that the government intends to maintain fuel tax discounts linked to price fluctuations in 2027, rather than implementing indiscriminate price cuts.
University tuition fees for undergraduate degrees will be adjusted based on inflation starting in the 2027/28 academic year, ending a seven-year freeze. To accompany this change, the government plans to increase budget transfers to higher education institutions by 47 million euros.
The Minister of Finance stated that the 2027 State Budget proposal ensures 'tax neutrality' for salary increases of up to 4.5%. This is achieved by updating IRS brackets by 3.88%, raising the 'mínimo de existência' (subsistence threshold), and maintaining the previously proposed reductions in IRS rates, ensuring that individuals receiving such raises will pay less IRS in 2027 than in 2026.