Property tax

Understanding Stamp Duty in Portugal, known locally as "Imposto do Selo," is essential for anyone involved in property transactions or legal acts within Portugal.

When settling accounts in the division of assets in divorce and inheritance proceedings, "tornas" or returns are paid by a party to compensate another.  Returns follow legal procedures that are crucial to understand when it comes to sharing assets.

A rise in interest rates on mortgages is a scenario that is on the table, and the European Central Bank (ECB) has already admitted the possibility of increasing the key interest rate in 2022.

Buying a property in Portugal - be it a flat, a house, a farm, or a plot of land - is a rather complex process and implies compliance with several legal requirements.

The exchange of real estate, also known as a house swap, has been gaining more and more importance in the real estate market in Portugal, where this process is called "permuta".

Buying a property in Portugal also means paying a series of taxes. One of the taxes that is due very year is the Municipal Property Tax (IMI).

First things first, what is IMI property tax in Portugal? IMI is a Municipal Property Tax which is updated and must be paid annually by the owners of properties or land in Portugal. In technical terms, IMI is levied on the Taxable Asset Value (VPT), i.e.

84 municipalities in Portugal have decided to reduce Municipal Property Tax (IMI) rates for homeowners in 2021, in respect of the properties they owned on 31st December 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.

Every year, municipalities have to determine and communicate to the Finance Department by December 31st, the amount of Municipal Property Tax (IMI) for real estate they intend to charge owners in their respective municipalities.

The difference between buying a house in Portugal being a resident or not depends on the purpose of the house. If you buy a house to live in Portugal, you are buying a permanent home and are a resident, but if you do not live in Portugal and you buy property there it will count as a second home.

Property owners in Portugal who take out home contents insurance cannot deduct it from their property income when they file their IRS income tax returns, because it is considered to be an optional extra by the tax authorities. Within the scope of the IRS category F for declaring rental income, the

This year there are new deadlines for paying the Portuguese Municipal Property Tax (Imposto Municipal sobre os Imóveis or IMI) bill. For the first time, homeowners will be able to pay the tax all at once in one lump sum in May, even if the value of the first instalment is more than 100 euro.

The Addition to the Municipal Property Tax (Adicional ao Imposto Municipal de Imóveis or AIMI) is, as the name implies, a tax levied on real estate assets. It was created relatively recently, in 2017, and many property owners in Portugal don’t know they have to pay the AIMI.

Are you going to change houses, selling one and buying another, but are worried about the capital gains tax to be paid?

Portugal’s tourist accommodation business is booming, with short-term tourist lets becoming ever more profitable and popular.

July has arrived and that means the second payment of the Municipal Property Tax (Imposto Municipal sobre Imóveis or IMI) is due. This notice is for anyone who has to pay this tax in three separate parts. That happens when the amount to be paid is more than 500 euro.

Interest rates for mortgages are relatively low right now, and it’s possible to can earn more than 7% each year if you invest in a property in Portugal.

The Municipal Property Transfer Tax (Imposto Municipal sobre a Transmissão Onerosa de Imóveis or IMT) is a tax on onerous transfers of properties in Portuguese territory.

Buying a house can be a long and complex process, with a lot of official hoops to remember to jump through.