NALLE

City Halls can request IMI re-evaluations

The City Halls may now request IMI re-evaluations for tax purposes.  Until now, this procedure was only open to property owners.  IMI is a municipal tax collected by the AT (Tax Authorities), based on 0.3% – .45% of the rateable value of real property.

IMI changes

Solar exposure and the view are now being weighed more heavily in the determination of property values and the IMI (property rates). These two numbers now quadruple, going from 5% to 20%.  On the other hand, the same factors, when considered for the reduction of property value, are worth 10%, a doubling compared to the prior coefficient which was in force at 5%.

Portugal ranked 5th safest country

Iceland, Denmark and Austria are the three safest countries in the world according to the Global Peace Index 2016 (GPI).  Of 163 countries, Portugal ranked fifth, ahead of Spain (25), France (46) and United Kingdom (47). Syria, South Sudan and Iraq are the least secure nations.

Lisbon Tourist Tax yielded €3.9 million in 5 months

The Lisbon Municipal Tourist Tax that is applied to overnight stays earned 3.88 million euros for the City Council between January and May. According to the municipality, the seven million Euro estimate should be “clearly exceeded” by the end of the year.

Iceland to restrict Local Lodging

In line with Berlin, Iceland wants to restrict tourist letting. New legislation is being introduced that will limit to 90 days per year the allowable offerings to holidaymakers. If this period is exceeded, a additional tax will be applied.

ASAE cracks down on fraudulent Local Lodging

In the first half of this year, ASAE detected 41 Local Accommodation establishments operating illegally in Portugal. Of more than 500 Local Lodging inspections over the 6 month period, proceedings were raised against 30 unregistered operators.

Tourist Lets: Government recognizes continued tax evasion

According to the Secretary of State for Tourism, Ana Mendes Godinho, a partnership with the Airbnb platform is in the pipeline to end illegal rentals. It is the hope that such collaboration will greatly reduce Local Lodging tax evasion.

Tourist Tax in the Algarve

After cooperation with the hoteliers in the District, Vila Real de Santo António will start charging a Tourist Tax of 1€/person and night (with some exemptions and discounts) as of January 2017. The City Hall created a Strategic Tourist Tax Council, comprising City Hall representatives, hotels and real estate agents, which will oversee the management of the tax and its investment in tourism activities in the district.

It is said that the Tax Authorities will adapt the online invoicing system so that the Tourist Tax (exempt of all other taxes) may be invoiced within the Green Receipts.

 

French buy more houses in Portugal

In the first quarter of 2016, the French buyers surpassed the English and Chinese for the first time in the real estate purchases. This trend further consolidates the growth experienced in recent years. Overall, foreign investment represents 20% of property purchases in Portugal.

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