The President of the Algarve Socialist Party, António Eusébio, has welcomed the Government's decision to send the interest on delayed payments to the region’s councils.
The amounts relate to interest on money collected by the State from Municipal Property Tax (IMI) and Municipal Tax on Real Estate Transfers (IMT), which were not passed on to councils in a timely manner.
MP António Eusébio, welcomed this national windfall of €78.9 million. The Algarve’s share of the payment is just over €10 million, "unjustly retained over the last twelve years."
The government from now on will ensure the proportion of these taxes due to councils will be passed on without further delays.
António Eusébio also said that from now on, councils will have access to the data held by the Tax and Customs Authority so each knows how much is owed.
This new way of doing things was part of the new Local Finance laws forming part of the 2017 State Budget.
Loulé council will receive €2,483,522.00,
Albufeira €2,343,927,
Portimão €1,305,965.75,
Lagos €825,714,
Lagoa €589,339,
Silves €536,795,
Tavira €504,349,
Faro €432,311,
Olhão €360,968,
Vila Real de Santo António €270,842,
Castro Marim €130,295,
Vila do Bispo €122,684,
Aljezur €117,543,
São Brás de Alportel €67,349,
Monchique €40,938
...and finally Alcoutim will receive a transfer of just €6,191.
