» Changes to property taxes in Portugal | The Quinta Journal

You are here: Home News Changes to property taxes in Portugal

Changes to property taxes in Portugal

By • Jan 4th, 2007 • Category: Company News, Property News & Info

With the announcement of the budget for 2007, the Portuguese government has proposed a change in the tax laws relating to offshore companies in the so-called “blacklisted” territories like Gibraltar, Channel Islands, Bahamas, Cayman Islands amongst many others.

The IMI – or property tax – is reduced from 5% to 1% or to 2% if the property in question is not inhabited for more than one year. (The proposed law does not reveal HOW this habitation is to be controlled.)

The IMT – or stamp duty/transfer tax – for the purchase of a property that is held by an offshore company has been reduced from 15% to 8%.

- Office Manager - Lina was born in Madeira but spent her formative years in England. In 1981 her family relocated to the Algarve because of its high quality of living and mild climate.
Email this author | All posts by

Leave a Reply

Your email address will not be published. Required fields are marked *