Did you know that IRS Jovem presented changes for the year 2023? We will present you with all the details about this change and how it impacts people who already benefit from this aid.

Thus, this is a measure that is part of some measures approved by the State Budget for this new year of 2023. So, the objective is to try to improve the country's economic situation.

In this case, the 2023 Young IRS presents an interesting reinforcement and expansion. So, if you are one of those benefiting from this measure or if you know someone who might be interested, read this text until the end!

Well, firstly, it's important to start with the basics. Do you know what the IRS is? Well, this is the Personal Income Tax. In other words, this is a tax that everyone who receives a fixed income must pay.

Furthermore, in general, the IRS updated the taxable income levels of 5.1%. Therefore, the payment is relative and more or less proportional to your income.

In fact, there are people who can exempt themselves from paying the IRS. If you earn less than 762 euros you can request a full exemption. This value was updated together with the IRS Jovem in 2023!

Furthermore, there are several measures that aim to help make the account more equal. So, thinking about the young population, the Government decided to update the IRS Youth rules. Check out what exactly IRS Jovem is and its changes.

Now that we understand more or less how the IRS works, how about understanding a little more about IRS Jovem? This project prioritizes the group of young people recently leaving educational institutions and entering the job market.

In fact, it is worth remembering that only those who are not part of or make up their parents' household are entitled to IRS Youth. And this is one of the points that did not change with the recent change.

So, to improve the financial situation of young people, allowing them to start building their lives, a partial tax exemption was considered.

This measure had already been applied for some years. However, in 2023 it was perfected!

So, let's understand what changes and updates occurred at IRS Jovem! Firstly, there was an increase in the ages of participation.

Thus, previously only people aged 18 to 26 could participate. Now, the benefit covers people up to 30 years old. However, not under the same conditions.

Therefore, anyone aged 18 to 26 can only take advantage of the benefit if they have completed an education cycle equal to or higher than the fourth level of the NQF (National Qualifications Framework).

On the other hand, in 2023 anyone aged 26 to 30 can also apply for the IRS Jovem, but must be part of the eighth cycle of the QNQ.

This is the last level and is equivalent to a doctorate. In other words, the incentive for educational specialization is noticeable!

Let's briefly check the QNQ so that there is no doubt about which level corresponds to which category.

Another very beneficial change in 2023 was the inclusion of another income category within the IRS Jovem. Previously only those who were in category A, that is, income from dependent work.

This is the category of work with a fixed contract. But, fortunately, now category B has also been included within this model. This category corresponds to income from independent work.

In other words, aimed more at service providers in general.

Thus, before 2023, the IRS Jovem application duration was only three years. Now, the duration has increased to 5 years. But how does duration work?

In this way, years are counted both consecutively and interpolated. In other words, if you need to stop working for any reason, the following year you can once again enjoy the benefit without the discount for the inactive year.

Therefore, the percentage values are as follows:

Previously, the minimum value was 30% in the first years and 10% in the last. So it was a considerable enlargement!

Furthermore, you may be wondering: how do I take advantage of all these changes? So, the entire process is carried out through the Finance Portal website and can be a bit bureaucratic.

So, in order to take advantage of the IRS youth benefit, you must complete tables 4A and 4F of Annex A. Furthermore, it is essential that you have an authentication password on the Portal to be able to complete the declaration.

Therefore, you must fill out the forms with personal data and that of your employer. This includes NIF, annual income amount, amount allocated to Social Security and unions (if applicable).

So, are you prepared to declare your IRS Jovem 2023? So take advantage of our tips. On the other hand, if you are still looking for a job, how about finding out about the opportunities at Lidl Supermarket?

Therefore, this is a company that offers exclusive benefits to its employees! Do you want to know how to apply for a vacancy? Then check out our exclusive step-by-step guide. Click now on the link below and find out more!