Saturday, October 15, 2016

Here there are tax increases. From small to huge – Diário de Notícias – Lisbon

House of 700 thousand euros has increase of 14%. Soft drinks rise 25%

With the new State Budget, the government sought to maximize the gain tax in some segments. All the “vices” (alcohol, tobacco), soft drinks, pollution and use of motor vehicles, without forgetting the munitions (weapons), will be exacerbated.

The case for the more controversial (and perhaps more profitable to the tax authorities) is the IMI about the houses of above value of 600 thousand euros.

With the additional tax that is in the pipeline, the government hopes to raise 160 million euros. Based on simulations of EY, a real estate 700 thousand euros, the difference is notorious. Today, the taxpayer targeted pay 2100 euros to IMI. With the amendment, the bill will increase in 2017 to more than 14%, for 2400 euros (300 euros for an account of this additional fee of 0.3%). The revenue generated, the government says, goes to fund the fund of Social Security.

The government has argued that this new costume tax is more fair compared to what is still in force (tax stamp), but with the change it will take more heritage. Instead of buildings unit of one million euros or more, passes the tax collections property valued at 600 thousand euros or more. The measure can achieve, easily, the owners of two villas of high value and that up until now were out of the radar of Finance.

The ministry clarified yesterday the terms of the proposed law, and ensured that taxpayers with tax debts and assets, to less than 600 thousand euros, will never pay in 2017 this additional IMI. Official source said even though the government is “fully available to clarify the standard”.

Therefore the IMI alone brings a large increase in tax. But others follow (see next).

The war on sugar by means of the-called fat tax-it started with soft drinks. Cakes and pies packed were left out, despite its high fat content and sugars. And nectars of fruit, originally referred to as the potential target, escaped, at least for now. Simulations carried out by the DN/cash Money show that there are cases in which the final price to the consumer of a pet bottle of soft drink (1.5 l), highly popular in Portugal, can rise more than 25%. Abona in favour of the consumer the fact that they are products still relatively cheap.

In the car market, there will also be changes. The ISV advances 3% (and this relates to even the VAT of 23%), the IUC is also aggravated (0.8%), and even created a new fee in the headquarters of the circulation tax that punishes even more those vehicles are very polluting.

Still in the car, it is to highlight a new puzzle of the incentive to the exchange of old vehicles for hybrid cars electric, which translates, in practice, a worsening of the invoice the tax of these consumers. Today, the benefit is 1125 euros; drops to half (562,5€).


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