OWNERS OF HOLIDAY RENTAL PROPERTIES FACE CAPITAL GAINS TAX BLOW
Two news items relating to the Alojamento Local (AL) registration system for those property owners involved in short-term lettings to tourists further have reduced the chances of anyone registering without being forced to.
Owners who have their AL licence and who later remove their property from the scheme, for whatever reason, then are liable to pay capital gains tax, whether they are selling their property or not.
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Short term rentals. Alojamento Local.
In the past I have written several articles about the problems we have encountered in recent years with letting private properties to tourists on a daily or weekly base (short rentals).
During the past years quite a few agencies and property owners have been caught by the ASAE (the authority in charge with inspections) and agents and property owners received heavy fines as their properties did not have the correct license.
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