IMT (UNIQUE PURCHASE TAX – this is the tax that you have to pay if you purchase a property in Portugal) – please have a look on the following table - applicable since 1st of January 2011: PERMANENT (MAIN) HOUSING in Portugal ( Permanent Living – First home ) Property Value Tax amount to be Prices Média (1) deducted 0 – € 92.407 0% 0% € 92.407 – € 126.403 2% - 1.848,14 Euros € 126.403 – € 172.348 5% - 5.640,23 Euros € 172.348 – € 287.213 7% - 9.087,19 Euros € 287.213 – € 574.323 8% - 11.959,32 Euros More than 574.323 Euros 6% no deduction SECONDARY HOUSING in Portugal ( Vacation / Rental / Investment – Secondary home ) Property Value Tax amount to be Prices Média (1) deducted 0– € 92.407 1% 0 € 92.407 – € 126.403 2% - 924,07 Euros € 126.403 – € 172.348 5% - 4.716,16 Euros € 172.348 – € 287.213 7% - 8.163,12 Euros € 287.213 – € 550.836 8% - 11.035,25 Euros More than 550.836 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 8.163,12 Euros of the amount - this deduction is a kind of BONUS - you will pay for this property 5.836,88 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 |