Property tax

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.