If you want to know what IRS Jovem is, stay with us and we’ll show you everything! The IRS is the Personal Income Tax.

In other words, this is a tax that you must pay when you work and have some type of income. In fact, it is also possible to access the Finance Portal and fill out everything online. See the official website below!

Thus, there are several IRS categories and one of them is the category for Young People! In fact, this IRS category has undergone some reforms recently, but rest assured that we already have all the updated data.

Young people are entitled to a part of the exemption from paying this tax if they meet a certain set of characteristics. So, if you are young or have an acquaintance or family member who is up to 30 years old, keep an eye out!

Well, now that you know what the IRS is, let's get to know the details that permeate this tax. Firstly, this tax offers a partial exemption for income in two categories, A and B.

Thus, the first refers to dependent work and the second to independent work. But are all young people able to enjoy this benefit? No!

Only young people who are between 18 and 26 years old and have completed a study cycle higher than secondary education. Young people up to 30 years old can also benefit from IRS Jovem as long as they have completed their doctorate.

Furthermore, to be able to enjoy the benefit, the young person must not be dependent. In other words, he must not be integrated into his parents' household. On the other hand, there is IRS for students with temporary work, check it out!

Therefore, students who perform temporary work can request complete exemption from the IRS. To do this, they must attend an educational establishment regularly.

Furthermore, it is necessary to remain a dependent in a household. 

Furthermore, to be entitled to the benefit it is necessary to notify the educational establishment through the Finance Portal. In fact, be aware that the deadline for this action is February 15th of each year.

In fact, it is important to point out that this benefit is only valid for the first 5 years of work, whether consecutive or interpolated.

In other words, the individual is entitled to IRS Jovem for 5 years of consecutive or interpolated work or until reaching the maximum age, which in this case is 35 years old. Therefore, what matters is the age at which the benefit began. 

In other words, if you signed up at age 30, you will be able to enjoy it until you are 35, which is the maximum age. So, if you stop contributing in a subsequent year, you will not be entitled to the full 5 years, as once you reach 35 the benefit ends.

Furthermore, let’s find out what the exemption amounts are for you to save:

So, let's see some advantages and disadvantages of this benefit? Firstly, you can request this benefit if you are still at the educational institution or are valid after the last year of study.

Furthermore, the advantage that stands out most is the fact that you can save money when making your declaration. This money can be saved for future expenses or even invested!

However, one of the main negative points is the fact that this benefit does not accumulate with other benefits, such as the Regressar Program. Furthermore, it does not accumulate with the tax regime for non-habitual residents. So keep an eye out.

Another disadvantage is not being able to make automatic declarations. But, furthermore, no other disadvantages of requesting your IRS Jovem were found! So take advantage of the opportunity if you have the possibility.

So, even after knowing all the benefits and how IRS Jovem works, a big question still remains: how to request this benefit?

In fact, you must express interest to access the benefit, it is not applied automatically!

So, know that you can fill out your declaration online through the Finance Portal, which you can check out at the link below.

So, first, access the Finance Portal website and look for the IRS option. Furthermore, it is necessary to have an authentication password on the Portal to be able to complete the process.

So, you must be careful when filling out tables 4A and 4F in Annex A. Therefore, we will proceed in parts.

First, fill in the NIF of the entity paying for your services. Furthermore, in the “Income Code” tab, place option 417.

Then, in “holder” you must indicate your identification number and in “income”, indicate your annual income. Furthermore, in the “Withholding Taxes” field, indicate the amounts withheld by the employer.

And, in “contributions”, fill in the amounts allocated to Social Security. Furthermore, if applicable, you can place the amount paid to unions in “Union Dues”.

In “Holder”, fill in your tax identification number (TIN). Then, in the “Year of completion of the study cycle” option, fill in the date on which you finished attending your last educational institution.

Furthermore, under “QNQ qualification level”, choose the option corresponding to your educational qualification level.

Then, in the option “Educational establishment / Country of completion of the study cycle”, indicate the name of the institution where you completed your studies.

Furthermore, it may seem complex, but if you follow the steps calmly, you will be able to finish your statement satisfactorily!

IRS Jovem is a great opportunity for everyone who is entitled to take advantage of this partial exemption! So stay tuned!

Furthermore, how about finding out about another benefit option? Have you heard of Family Allowance for children and young people? With this assistance it is possible to help with the education of children present in the household!

It is possible to request the money up to the age of 24, if the young person continues studying! So, if you want to know more about how the allowance works and how you can request it, how about checking out our review on the topic?

Click on the link below now and find out more about Family Allowance for children and young people!