A.I.M.I. or additional I.M.I. (rates) At the end of December 2016 the Portuguese parliament as part of the yearly State budget related to 2017 approved a new law also known as: DL 42/2016 of 28-12-2016.
When a property is divided in fractional units it is as you well know constituted in horizontal property. If all fractional units resulting from the horizontal property title belong to the same owner, there is no condominium but if, at the same time, each fractional unit belongs to a different owner, we have in fact a condominium. The horizontal property title is the very basis of the condominium and each owner is a “condómino”.
Local Lodging and another clampdown on illegal rentals Local Lodging has finally come into its own. Known internationally as “self-catering accommodations”, new statutes regulating this business are solely dedicated to the activity in its own right, rather than being seen as an afterthought to general tourism as in the past.
Non-habitual residents Portuguese special tax regime Introduction Portugal created a special personal income tax regime for new residents which offers attractive tax opportunities for foreign pensioners.
This summary provides a brief overview and explains the main guidelines and potential implications of this regime for foreigners and Portuguese individuals settling in Portugal after an extended period of living abroad. It deals mainly with individuals receiving pension income. A separate brochure is available for employed and self-employed expatriates.
There was a time in which not a single Spanish law firm that prided itself would pass on the opportunity to heartily recommend its affluent non-resident client base (and even foreign residents) to acquire and own property in Spain by means of corporate structures ranging from the simple to the overtly complex often involving a multijurisdictional approach.
Further to the recent negotiations on the 2013-2014 budget, the new Bill of 17 July 2013 imposes a notification measure re private estate and off-shore structures in which Belgian tax payers are, directly or indirectly, involved.
Salaries go down as Social Security goes up Private workers will lose one salary, whilst public employees will lose two
It was the first time that a Government measure was received with such unanimous opposition, but when Pedro Passos Coelho announced last Friday (September 7) that all workers would see their monthly contribution to Social Security increase by seven percentage points as of 2013, everyone – regardless of their political stance – agreed to disagree with the Portuguese Prime Minister.
In December 2003, new rules concerning municipal property tax (Imposto Municipal sobre Imóveis) came into force. A new code was also approved: the Código do Imposto Municipal Sobre Imóveis (CIMI).
Together with the proposed 2012 Portuguese Budget is a document proposing rectification to the 2003 general property reform. The 2003 changes established a 10 year period to achieve a general revaluation for tax purposes of all property in Portugal.
