Portugal’s Socialist government knows full well that messing around with property taxes in order to penalise entrepreneurs, is a vote loser.
The Socialist Party leader today quashed any chance that the Left Bloc’s special income tax rate will see the light of day.
Carlos César, said that Catarina Martins' proposal to curb real estate speculation, "has never been presented" as part of the 2019 State Budget talks and that the current Capital Gains Tax provisions are quite enough.
Carlos César guarantees that "this measure will not have the approval of the PS Parliamentary Group" and therefore, "will not be a matter that can proceed."
On Tuesday, the Left Bloc leader, Catarina Martins, (pictured) said her party's proposal to apply a special income tax rate to curb real estate speculators was "quite sensible," and said that ongoing talks with the Finance Ministry had been going well.
On Tuesday, the PM said he did not understand the Left Bloc proposal, as "capital gains tax already exists."
Asked later about the prime minister’s statement, Catarina Martins played it down and said it was possible that António Costa has not yet spoken with the Minister of Finance on the matter.
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See, 'Left Bloc pushing for special tax to halt 'real estate speculation'' 10 September 2018