PropertyLisbon – A Guide on Taxes in Portugal
PropertyLisbon has compiled this quick and simple guide on taxes in the country of Portugal that are relevant to purchasing a property in the country. For the full and comprehensive list of all the taxes in the country of Portugal that are associated not only with the purchase of the property but also with the after-purchase timeline, which includes the rentals as well as the income taxes, please fill out the form that we have provided at the bottom of the page to download it instantly.
The IMT Tax
The largest tax in the country of Portugal when one makes a purchase of a property is called the IMT tax – the Imposto Municipal Sobre Transações -. The IMT tax is payable as soon as the investor has done the deeds process of the purchase, and it is calculated as a percentage of the purchase price.
There may be a variable discount against the percentage, but it is dependent on the value of the initial purchase price. If this sounds confusing to you, do not fret, we can explain it all in much greater detail and with much greater clarity to you in person. Which is why we encourage you to contact us and schedule and appointment.
The range of the IMT tax is usually somewhere between two percent and up to six percent on residential property purchases, while it stands at the flat rate of six point five percent on purchases of commercial properties.
The properties the value of which is below ninety two thousand Euros are exempt from the IMT tax. This tax is payable at the deeds part of the process of purchase.
The Stamp Duty Tax
The zero point eight percent of the agreed upon purchase price payable at the deeds part of the process of purchase.
The Lawyers Fees Tax
The lawyer fees tax is usually paid either in advance or fifty-fifty on the lawyer and the work involved at the beginning. The lawyer fees taxes are usually broken down into a number of different sectors such as – the conveyancing tax, the fiscal representation tax, the Golden Visa acquisition tax, and the non-habitual residence application tax.
The Notary Tax and The Land Registry Fees
Both of these are also payable at the or just after the deeds part of the process of purchase, and usually total at around one thousand Euros.
As the taxes will be dependent on the purchase price of the property, it is kind of difficult for us to put a definite number on it until the investor has chosen a specific property of interest. Therefore, as a rule, if the investor allows eight percent above their purchase to cover everything they should not be far away. Anyone who would like to receive a full breakdown of all their taxes when purchasing and renting out property in the country of Portugal is welcome to download our comprehensive Guide to Portugal which includes everything that is needed when purchasing property in our country, along with all our advice relevant to the subject
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