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Purchase costs and taxes for buying real estate in Portugal

IMT Tax

When buying real estate in Portugal there are purchase taxes to be paid. You have the IMT tax and stamp duty as general costs.

IMT tax is calculated based on the purchase price of the property. Furthermore, there are 2 different tax tables. In 2017, properties for Primary Residence pay 6% IMT above euro 574.723, and for Holiday Homes the tax is 6% for properties above euro 550.836.


Stamp Duty


Besides the IMT tax, there is also a charge of 0,8% for stamp duty payable upon purchase. The stamp duty is calculated on the purchase price of the property.


IMI 2017

In Portugal every property pays IMI tax, which is the council taxes you pay yearly on the property. This is calculated on the fiscal value of the property.

Every council has the right to charge between 0.3-0.45% (was 0,5% in 2016). The level of tax varies per council and you can check with your lawyer, what the current amount is that the property pays in taxes.

The property tax for properties up to euro 250.000 is payable in April

Properties with values between euro 250.000 – 500.000 are payable 50% in April and 50% in November

For properties with a fiscal value above euro 500.000 payments are made in 3 tranches, April, June and November.


Exclusive Algarve Villas recommends for all property purchases and sales to use a legally registered lawyer in Portugal.  Lawyers are registered with the Ordem dos Advogados and their license can be verified at www.oa.pt

 

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