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The Municipal Property Transfer Tax (“IMT”) which was scheduled for extinction in 2017 by the previous government will be maintained, according to the 2016 State Budget Proposal. The tax is currently the second largest source of revenue for local municipalities.
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.