Adicional ao IMI

The AIMI or Additional to the Municipal Tax on Real Estate in force since January 1, 2017, is a new tax that replaces, according to new molds, the previous stamp duty additional to IMI, in force since 2014 (1% for VPT higher than EUR 1 million). Unlike IMI, this is not a municipal tax because it reverts directly to the state's coffers.

The new tax applies to all natural and legal taxpayers who own real estate (urban housing, or building land) whose total value exceeds € 600,000 . The fees to be applied depend on:

• In the case of single taxpayers and undivided inheritances, the rate shall be 0.7% on the share exceeding € 600,000. If this amount exceeds € 1,000,000, then the rate to be applied will be 1% on the amount that exceeds this threshold. Taxable persons married or in union may opt for joint taxation, in which case the VPT's of the real estate will be added, and may deduct up to € 1.2 million.
• If it is a collective taxpayer, the single rate to be applied will be 0.4% of the total net asset value, with no deduction of € 600,000 in the incidence of the tax, observed in the singular taxpayers. If the property is intended for the personal use of the owners of capital, members of the governing bodies or any organs of administration, management or supervision, the rate to be applied is 0.7%. Even in this case, if the VPT is greater than € 1,000,000, the marginal rate of 1% will be applied.The companies can still deduct exceptionally € 600 thousand, if they have properties whose VPT is directly affected by the operation of the same.

Urban buildings classified as " commercial, industrial or service " and " other " are exempt from payment of AIMI.

The option to deduct AIMI from IRS is limited to the fraction of the collection corresponding to the income generated by properties subject to AIMI, in the scope of rental or lodging activities.
The legal entities can choose to deduct the amount paid as AIMI in IRC, deducting it or to the taxable profit or to the collection (if the properties are destined to lease). You can see here a simulation for several scenarios.

In the case of undivided inheritance, there is the option of presenting a declaration by the couple, identifying the heirs and their respective quotas, and the share of each heir is added to the sum of the tax assets of the buildings of which holder individually.

Compared to the previous stamp duty on luxury real estate, which is thus extinguished, the major change is that now it is not the individual properties that are taxed, but the overall assets of the taxpayer. On the other hand, the worsening of the tax affects the assets of average value, and in some cases the owners of properties of higher value, may suffer a tax relief.

The Deloitte consulting firm presented a set of simulations  that help to understand the impact of this tax depending on the profile of the owner.