Additional to IMI

This tax, unlike IMI, reverts to the State coffers and applies to all individual and collective taxpayers, who are holders of real estate whose global value exceeds € 600,000 .

The AIMI or Additional to the Municipal Property Tax in effect since January 1, 2017, is a new tax that replaces, according to new models, the previous stamp tax additional to IMI, in force since 2014 (1% for VPT higher than 1 million euros). Unlike IMI, it is not a municipal tax, as it reverts directly to the state coffers.

The new tax applies to all taxpayers, both natural and collective, who hold a real estate heritage (urban buildings intended for housing, or land for construction), whose global value exceeds € 600,000 . The rates to be applied depend on:

  • In the case of individual taxpayers and undivided inheritances, the fee will be 0.7% on the part that exceeds € 600,000. If this value exceeds € 1,000,000, then the rate to be applied will be 1% of the amount that exceeds this level. Married or de facto unpaid taxpayers can opt for joint taxation, in which case the VPT's of the properties will be added together, and they can deduct up to € 1.2 million.
  • If it is a collective taxpayer, the single rate to be applied will be 0.4% of the global equity value, with no deduction of € 600,000 in the tax, as observed by individual taxpayers. If the properties are intended for the personal use of the capital holders, members of the governing bodies or any bodies of administration, management or inspection, the rate to be applied is 0.7%. Even in this case, if the VPT is greater than € 1,000,000, a marginal rate of 1% will be applied.Companies may also exceptionally deduct € 600 thousand, if they have properties whose VPT is directly allocated to the operation of the same.

Urban buildings classified as “ commercial, industrial or for services ” and “ other ” are exempt from paying AIMI.

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

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

Compared to the previous stamp duty on luxury properties, which is thus extinguished, the big change is that now, it is not the individual properties that are taxed, but the taxpayer's global assets. On the other hand, the tax increase is levied on the average value assets, and in some cases the owners of higher value properties may suffer a tax relief.

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

Updated on: 
19. September 2019
 
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