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Yearly Archives: 2014

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Ryan Air opens routes to the Azores

 NALLE logo-red 30%The ‘low cost’ company announced that, starting in April, it will link Ponta Delgada to London, Lisbon and Porto, projecting 350,000 customers a year. Links to the island of Terceira are still under negotiation.

Tax Inspectors investigate Owners with more than a house

Finanças is scrutinizing real estate data. Inspectors are contacting directlyNALLE logo-red 30% those who have homes to rent.  By cross-checking data such as water and electricity consumption, they determine residential occupancy and verify appropriate tax declarations.

Government back-peddles on IRS Reform

NALLE logo-red 30%The government has abandoned many of the proposed IRS reforms to the 2015 Budget in hopes of achieving a consensus with the opposition Socialist Party. With recent successive alterations, it would appear that only the final Budget vote will clarify which changes survive.

Fines for unauthorised Local Lodging

NALLE logo-red 30%The penalty for letting furnished accommodations to tourists without a license (registration with your local Council) is as follows: for Individuals: €2,500 to €3,740.98 / for Companies: €25,000 to €44,891.22 The same fines also apply to the absence of an Energy Efficiency Certificate that is mandatory when conducting property related activities.

Foreign Property Investments

Foreign property Investments double 2013 levels

In the first 6 months, real estate investments by international groups and individuals have reached 400 million Euros. This should bring property purchases close to pre-crisis levels by the end of the year. Currently, this investing is predominantly in commercial property in upscale sections of Lisbon.

New Web Site rules

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Web sites promoting unauthorised holiday lets are also subject to fines

According to the “Jornal de Negócios”, aside from “supply and availability”, also the “advertising and brokering” of illegal accommodations is considered a misdemeanour, subject to fines of up to €35,000, and sanctions including closure of the activity.

Websites that advertise offerings and mediate bookings of unauthorised holiday lets also risk being fined and see the penalties applied.

Unauthorised Local Lodging Scams

In a single day in August, the GNR received 8 complaints regarding potential local lodging irregularities. The accusations arose from people who had paid while making reservations who later found that either the accommodation did not exist or was already rented.

IMT to be repealed in 2016

NALLE logo-red 30%Proposed repeal of “IMT” in January 2016

The Government will end Municipal Property Transfer Tax (IMT) in January 2016, tax paid when buying a home. In their memorandum, the ‘troika’ had already suggested the transfer of IMT tax revenues to Municipal Property Tax (IMI).

Police Patrols

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 NALLE TIP:

If you will be leaving your home unattended during the Holidays, you can request frequent inspection rounds by local police. You can sign up for this free security service at the nearest GNR or PSP police Station.

IMPORTANT NEWS – LL renewals

The Government is tying up some loose ends:
 
Home owners who rent out their property to tourists, have to prove to the City Hall until December 28, 2014 that they registered their activity with the Tax Office, otherwise they risk losing the Local Lodging License (Alojamento Local). 
This way, the state wants to make sure it receives taxes from all businesses.

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