They have already been announced but find out what are the key changes to the real estate market and the new rules that work today.
Additional to IMI
The new addition to the Municipal Property Tax (IMI) is levied on the sum of the tax asset values (VPT) of the urban buildings located in Portuguese territory, excluding real estate used for economic activities (commercial, industrial or services).
For single taxpayers who own properties with a value between EUR 600 thousand and EUR 1 million, a rate of 0,7% and a rate of 1% on the VPT above this 1 million is applied.
For companies holding residential property, a rate of 0.4% of the total VPT, or 7.5%, is applied if companies are based in tax havens. If the companies own property allocated to economic activities they can deduct EUR 600 thousand from the sum of the VPT held.
This additional to IMI is to replace the Stamp Tax, which applied a rate of 1% to each property worth more than one million euros.
Increased taxation on local accommodation
Local housing companies ('hostels' and houses for rent) covered by the simplified IRC scheme see their tax burden increased for this year as a result of the increase in the coefficient that serves as the basis for determining income Taxable amount (from 0.04 to 0.35).
Increases in rents, electricity and public transport
The value of rents should increase by 0.54% and electricity in the regulated market rises by 1.2% for domestic consumers.
In turn, the intermodal passes will increase, on average, 1.5% (between 0.10 and 1.30 euros in Lisbon, for example). On the other hand, according to the State Budget for 2017 (OE2017), a 25% discount will be granted on the monthly public transportation pass for university students up to the age of 23 (under 23) and it will be possible to deduct from IRS, by invoice , The total VAT of the expenses with the purchase of the monthly social pass, by any member of the household.
Lusa / DI