Tuesday, October 25, 2016

Government available to aggravate IMI of offshores – Diário de Notícias – Lisbon

Supported by the BE and the PCP, the executive António Costa wants to avoid that additional IMI favors companies with headquarters in tax havens getting with invoice more lightweight than the current

The government admits to aggravate the additional of IMI on the real estate companies based in tax havens, and is accompanied in this intention by the PCP and the Left Bloc. The issue will be addressed when the proposal of the Budget of the State to enter the specialty.

concerned is the fact that the new additional to IMI (a making -) to predict the rate equal to owners of real property regardless of whether they are in Portugal, or in the offshores. In the stamp tax, that a making-overrides, properties held by companies, offshore to pay a fee increased by 7,5% against the general rate of 1%.

it Will be the second amendment to a making-after the government have had to clarify the text so that it is expressed that only those who have heritage in excess of 600 thousand euros will have to pay the additional fee, regardless of whether or not the “tax equalized”.

Although a making-act differently (on the global real estate held by an owner and not on the property) and does not allow the deduction of 600 thousand euros of the value of the assets of the company based on a offshore holds in Portugal, there is willingness on the part of the executive to alter the wording of the measure. “In the headquarters of a specialty power-will further strengthen these mechanisms for the worsening of the property taxation of companies incorporated in tax havens”, said to the DN/DV official source of the Ministry of Finance.

When DN/DV, João Oliveira, PCP, said that during negotiations with the government, “we have identified some shortcomings in this measure, and we called attention to the need to ensure that the repeal of the stamp tax by the additional of IMI does not result in a reduction of the tax payable”.

in some situations the costumes of the new tax allows to reach the owners, who until now managed to escape the stamp duty, can also translate into a bill smaller. “What we understand is that with the new rules there should be no improvement of a making-the face of the stamp duty”, need to João Oliveira. This will be the spirit of the proposal that is to be drawn by the CFP.

BE, Catarina Martins has warned that the law is not made. “There is a proposal that will be seen in the specialty,” he said, advancing that the BE “is very committed to that there are no holes that allow for leakage to tax authorities [on the part of the records in the tax havens]“. This question will now be underlined by Mariana Mortágua, in the parliamentary hearing to the minister of Finance.

THE PSD referred in any position for the time in which to submit their proposals for changes to the OE. Already Cecília Meireles, CDS, accentuated the disagreement of the background of his party in the face of this additional IMI and described as “totally unjustifiable” that you may here result in any improvement for the companies with headquarters in tax havens. But he added that the responsibility for correction lies in the first line about the one who proposed this “tax the incongruous”.

The stamp duty applies a fee of 1% of all the houses of heritage value in excess of one million euros, raising it to 7.5% when the properties in question are registered in tax havens. In a making -, the differentiation is made by means of the basis of the incidence of the tax: the whole or only the part that exceeds 600 thousand euros. Despite this, the fiscalistas notice that the new costume has not effectively differentiated rates “On the tax stamp there is a worsening in the situation to be more usual. In OE, the aggravation that exists is not taking into account the deduction of 600 thousand euros”, you need to Diogo Bernardo Monteiro, lawyer at FCB.

The difference is relevant. Is that while in the stamp duty for a property of one million euro that is registered in an offshore pays more 65 thousand euros from a company without links to tax havens, with a making-the difference will be only 1800 euros.


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