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Tourism weight in economy increases 47% in eight years

According to data from the National Statistics Institute (INE), holidaymakers spent more than €23 billion in Portugal in 2016. Over 28 million visitors entered the country. The number of overnight stays exceeded 144 million. Tourism is growing four times faster than the rest of the Portuguese economy and represents 7% of the gross domestic product.

“AL” prices up in 2016

Prices for Local Lodging (“AL”) rose in the historic centres of Lisbon and Oporto during the first half of 2016 according to the “Confidencial Imobiliário Index”. The average cost of “AL” accommodations increased by 4.6% in the historic districts of Lisbon and 0.3% in the centre of Porto.

Lisbon Tourist Tax yields €11 million in 10 months

Lisbon, the city that pioneered the levy in Portugal, charges 1 euro on each night in the capital.  The assessment brought more than 11 million euros to Lisbon in just 10 months. Vila Real de Santo António and Cascais are set to follow the example in 2017. Porto also contemplates launching  a Tourist Tax but only as of 2018. Aveiro attempted to implement the measure in 2013, but a year later, suspended the fee.

Buyback price for electricity

The EDP will be paying 95€ per megawatt/hour for electricity produced in the home in 2016. The upper limit is 2.6MWh/year for energy produced by solar and water, and 5 MWh/year for production from biomass, biogas, and wind.

“IMI” Council Tax Rates for 2016

Council Tax Rates (IMI) in 2016 will remain the same in 259 of 308 municipalities, 84% of the total. 46 towns and cities (15%) will lower tax rate and only 1% will increase the levy. 136 townships (44%) will charge the minimum charge of 0.3%

Property transfer tax to stay on in 2016

The IMT will not be abolished in 2016. The gradual wind down is now scheduled to begin in 2017. For City Halls around Portugal, this means that they can continue to count this revenue of approximately €180 million in 2016.

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