IMT (UNIQUE PURCHASE TAX – this is the tax that you have to pay on purchase a property in Portugal) – please have a look on the following table - applicable since 29th of April 2010: PERMANENT (MAIN) HOUSING in Portugal ( Permanent Living – First home ) Property Value Tax amount to be Prices Média (1) deducted 0 – € 90.418 0% 0% € 90.418 – € 123.682 2% - 1.808,36 Euros € 123.682 – € 168.638 5% - 5.518,82 Euros € 168.638 – € 281.030 7% - 8.891,58 Euros € 281.030 – € 538.970 8% - 11.701,88 Euros More than 538.970 Euros 6% no deduction SECONDARY HOUSING in Portugal ( Vacation / Rental / Investment – Secondary home ) Property Value Tax amount to be Prices Média (1) deducted 0– € 90.418 1% 0 € 90.418 – € 123.682 2% - 904,18 Euros € 123.682 – € 168.638 5% - 4.614,64 Euros € 168.638 – € 281.030 7% - 7.987,40 Euros € 281.030 – € 561.960 8% - 10.797,70 Euros More than 561.960 Euros 6% no deduction EXAMPLE: In case of the purchase in Portugal for a value of 200K Euro the basic tax is of 7% - but in reality have to deduct 7.987,40 Euros of the amount - this deduction is a kind of BONUS - you will pay for this property 6.012,60 Euros purchase tax (IMT) What does that mean? The tax office here in Portugal has a tax which is used depending on the price but where are considered in EACH CASE a kind of fix IMMEDIATE DEDUCTION open to every buyer…except for properties over 561.960 Euros where the tax rate is 6% WITHOUT reduction. Please consider also the following costs: 1) Notary – depending on the notary between 300 – 400 Euros + Stamp Tax of 0,8% of the property value 2) Registrations – between 200 – 300 Euros 3) Solicitor / Lawyer – approx. 1.000 Euros – 1.500 Euros + 21% VAT (depending on the solicitor / lawyer) Please contact us for any informations you might need or for any doubts that you might have: E-Mail: inquiries@silver-coast-properties.net Properties in the Silver Coast Homepage |