Financial advice in Portugal
Latest articles about Financial advice in Portugal
After the COVID-19 pandemic, interest rates in Potugal on mortgages are following a downward trend, in May reaching the lowest value since at least the beginning of 2009, the date that marks the start of the historical sequence of the National Statistics Institute in Portugal (INE).
The European Commission says it is "reasonably optimistic" about Portugal's "rapid economic recovery" after the crisis generated by COVID-19 and believes that the way in which the country "controlled" the pandemic will benefit the recovery of tourism this summer.
The COVID-19 pandemic has been awakening a new interest in areas of Portugal that are less densely populated. And there is now good news for those who are thinking of changing their lives and replacing life in the city with less urban areas.
The COVID-19 pandemic is already having and will continue to have unprecedented effects on the world economy, with a negative impact not only on the financial situation of companies, but also on households.
The payment of IMI (Municipal Property Tax) in Portugal began in early May. Despite this atypical period that we're experiencing, generated by the COVID-19 pandemic, the government has already indicated that there will be no postponement of payment of this tax.
The campaign for filing 2019 IRS income tax in Portugal kicked off on 1st April 2020 in the midst of the coronavirus pandemic, and taxpayers now have less than 2 months to file their tax returns - the deadline is 30th June 2020.
The tax authorities have begun processing the first IRS income tax returns in Portugal despite no promises from the government, with taxpayers already receiving their refunds. The 2019 tax return campaign began on 1st April and ends on 31st June 2020.
The global coronavirus pandemic is affecting everyone and everything in one way or another. The authorities anticipate a year of global economic recession, which contrasts with the time before the outbreak of this global health crisis.
There are several updates in the moratorium law on mortgages in Portugal.
Most house buyers with a mortgage tend to take out home loans to be paid back over 25-30 years. This is a very long term and it represents a lot of money in interest.
The coronavirus outbreak has paralysed the country.
Parliament in Portugal - in parallel with an executive and temporary regime for late payment of rent and other measures - on Thursday 26th March 2020 approved an aid package including a moratorium on mortgage payments for vulnerable families and companies.