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Financial section
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IMT - IMI tax 2007
January 2007
Please see the tables below which show the 2
different scales of IMT tax ("Property
Purchase Tax")
for use as from 01.01.2007.
Note that there is a difference between the IMT payable on property for
permanent occupation and that for non permanent. Note also that the top
level of IMT for non residents is reduced to properties with a value of €uros
511,000 or over.
Thus property bought by non residents (incl. non
Portuguese companies) will pay more IMT.
Some better news is that in respect of this current year the IMI (rates
"Outstanding Annual Property
Taxes") payable by a “blacklisted”
company held property will be reduced from 5% to 1% of the tax value of
the property.
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Permanent Occupation
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Rate
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Deduction
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up to €85,500
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0
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0
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€85,500 - €117,200
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2%
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€1,710
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€117,200 - €159,800
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5%
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€5,226
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€159,800 - €266,400
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7%
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€8,422
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€266,900 - €532,700
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8%
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€11,086
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> €532,700
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6% Flat rate
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0
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Non Permanent Occupation
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Rate
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Deduction
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up to €85,500
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0
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0
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€85,500 - €117,200
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2%
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€855
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€117,200 - €159,800
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5%
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€4,371
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€159,800 - €266,400
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7%
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€7,567
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€266,900 - €511,000
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8%
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€10,231
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> €511,000
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6% Flat rate
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0
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Whilst every effort has been made to ensure that the details contained
herein are correct and up-to-date, this information does not constitute
legal or other professional advice. We do not accept any responsibility,
legal or otherwise, for any error or omission. |
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