[HIGHLIGHTS] The Government announces a reduction in personal income tax for 5.2 million taxpayers with a saving of 1,385 million

The Government announces a reduction in personal income tax for 5.2 million taxpayers with a saving of 1,385 million. As explained by the first vice president and Minister of Finance, María Jesús Montero, the reduction has two parts.

The first involves raising the exempt minimum to "15,876 euros, the equivalent of the annual SMI. " And, on the other hand, a tax reduction of up to 20,000 euros is applied. The way to do this will be through a modification of the Personal Income Tax regulations, so that the measure will have immediate effects.