Taxes

They are not the nicest aspect of a real estate transaction, but without taxes it would not be possible to support our community life. The real estate sector is one of those that suffers the most with the complexity and fiscal multiplicity, follow on this page the news that I am writing on this topic.

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Third-party land registers, lawyers and solicitors can now consult them

Oct

2019

Until October 2019, consultation of a property register was shrouded in confidentiality and only accessible to the owner(s) of the respective properties. This privacy rule still remains unchanged, however, an exception was introduced for lawyers and solicitors. These professionals now have the possibility of accessing this information whenever they are dealing with...

Real Estate - Tax changes for 2017

Jan

2017

So, here are the main tax changes for the current budget:

Additional to the Municipal Property Tax (AIMI)

The big news, also known as "Mortágua Tax", due to the way it was announced, this new tax is not really a new tax as it replaces, according to new models, the previous stamp duty additional to IMI, in force since 2014 ( 1% for VPT greater than 1 million euros)....

IMI of vacant or ruined houses triples in 20 municipalities, next year

Dec

2016

Among the well-known municipalities are Porto, Covilhã, Lisbon, Cascais, Sintra and Almada. In other words, if you own a house in ruins, or because you have been living for more than a year, you will have to pay the increased IMI tax, the value of which will be three times what you would normally pay.

In addition to this penalty that triples the value of IMI, there is yet another clause...

1/3 of the municipalities will lower the IMI rate in 2017

Dec

2016

I recall that a possible motivation for this downward revision is that 2017 will be an election year for local authorities and it is common for these casualties, even if they are mostly in the order of 1 or 2 tenths, to precede this type of event.

A revealing fact of this trend is that no municipality has decided to increase the IMI rate. According to the figures already known, more...

Properties subject to rehabilitation works are exempt from IMI and IMT

Oct

2016

Advantages in the IRS

In the sale of a property, which has undergone rehabilitation works by the owner (resident in Portuguese territory), the minimum rate (5%) will be applied in the calculation of the Personal Income Tax-IRS to the resulting capital gains. This tax benefit is only valid for properties located within the Urban Rehabilitation Areas and is expected at least...

IMI stirred in houses with "good" views and exposed to the Sun

Aug

2016

The increase in the weight of this coefficient in the formula in the calculation of the VPT (Asset Value of a House), which used to be 5% and has now gone to 20%, will affect the valuations of new houses or requests for revaluation of old ones, causing the Municipal Property Tax (IMI) goes up, for houses that have greater exposure to the Sun and / or that benefit from...

SIMPLEX + 2016 Measures for Real Estate

Jul

2016

The new legislative package has an impact on several areas, among which I am interested in describing those that concern the real estate sector and which, according to Graça Fonseca, the program coordinator, are to be implemented within a maximum period of 1 year.

With regard to the real estate sector, the measures presented will have an impact on construction, real estate promotion and...