Property Transfer Tax
This is now known as IMT, having replaced SISA tax on 1st January 2004. As of 1st January 2007 there are two separate rates to be applied, depending on whether you are buying a property for permanent living or a second or holiday home.
For permanent residents, the following table applies:
| Value of Property |
Rate to apply |
Deduction |
| Up to 87,500 | 0% | Nil |
| 87,500 - 119,700 | 2% | 1,750 |
| 119,700 - 163,200 | 5% | 5,341 |
| 163,200 - 272,000 | 7% | 8,605 |
| 272,000 - 543,900 | 8% | 11,325 |
| Over 543,900 | 6% | Nil |
* For example, if the purchase price is 150,000, the formula is: 150,000 x 5% = 7,500 less 5,341 = 2,159
However, for clients buying a holiday home, this table would apply:
| Value of Property |
Rate to apply |
Deduction |
| Up to 87,500 | 1% | Nil |
| 87,500 - 119,700 | 2% | 875 |
| 119,700 - 163,200 | 5% | 4,466 |
| 163,200 - 272,000 | 7% | 7,730 |
| 272,000 - 521,700 | 8% | 10,450 |
| Over 521,700 | 6% | Nil |
* For example, if the purchase price is 150,000, the formula is: 150,000 x 5% = 7,500 less 4,466 = 3,034
Exceptions:
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Other urban property, such as building plots or land to build an urban dwelling: 6.5%
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Rustic property (agricultural land): 5.0%
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When a company listed in one of the black-listed jurisdictions acquires a property in Portugal: punitive tax rate of 15%. (Note that if a company listed in a white-listed jurisdiction acquires a property, the same rates apply as shown in the table above)
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