Friday, October 14, 2016

New tax on property will have a threshold of 600 thousand euros – Express

The new heritage tax will only apply to owners that have properties with a value of more than 600 thousand euros, advances the "Journal of Business" this Friday. After much discussion between the Government, the BE and the PCP, the threshold was defined so as to not to discourage the attraction of foreign investors for the visa "gold".

With this value, all those who choose investing in Portugal 500 thousand euros for the purpose of obtaining a visa "gold" will not come out harmed – nor the Government will be to create reasons to doubt the benefits of the investment. The same concern had already been expressed by Marcelo Rebelo de Sousa.

a Large part of the visa "gold" awarded in Portugal are related with the acquisition of luxury real estate. To rise to the level of exemption to the 600 thousand euros of taxable value are no guarantees more clear that it is not intended to affect this universe of aliens.

The Express reported this week that the new heritage tax will be applied according to the type of the owner concerned. In the case of companies which are not exempted will be levied on properties with heritage value from 250 thousand euros, rising the level to the 500 thousand euros in case of single inheritance and absolute. Being concerned married taxpayers and unmarried, the bar is for real estate from a million euros. According to the "Business", the last two levels are expected to increase to 600 thousand and 1.2 million, respectively.

This tax will be applied based on the sum of all of the property of an owner, after being accrued during the taxable value overall. If this VPT exceeds a certain threshold, there is a place to the new tax.


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