Taxes

Imposto sobre as Transmissões Onerosas de Imóveis (IMT)
State imposed taxation on transfer of real estate

PRACTICE TABLES FOR 2008:

Acquisition first or only urban property or an autonomous fraction of an urban property destined exclusively for the permanent habitation of the owner:

Art.º 17.º, n.º 1, b) from CIMT ( Law  n. º 67 - A / 2007, from 31st of December)

Collective dues (in Euros)	Normal Tax	Amount of reduction
Up to € 87.500	0%	0,00 €
From € 87.500 to € 119.700	2%	1.750,00 €
From € 119.700 to € 163.200	5%	5.341,01 €
From € 163.200 to € 272.000	7%	8.605,05 €
From € 272.000 to € 543.900	8%	11.324,99 €
Above € 543.900	One tax rate of 6%

Acquisition of rustic property (i.e. agricultural land): 5.0%
Acquisition of other urban property and other substantial property: 6.5%

For example: A property purchased at €150,000 will be taxed at 5% = €7,500, less a tax allowance of 5,341.01. Total IMT will be 2,158.99.

Acquisition of a second or further urban property or autonomous fraction of an urban property destined exclusively for habitation:

Art.º 17.º, n.º 1, b) from CIMT ( Law  n. º 67 - A / 2007, from 31st of December)

Collective dues (in Euros)	Normal Tax	Amount of reduction
Up to € 87.500	1%	0,00 €
From € 87.500 to € 119.700	2%	875,00 €
From € 119.700 to € 163.200	5%	4.466,01 €
From € 163.200 to € 272.000	7%	7.729,97 €
From € 272.000 to € 521.700	8%	10.449,97 €
Above € 521.700	One tax rate 6%

Acquisition of rustic property (i.e. agricultural land): 5.0%
Acquisition of other urban property and other substantial property: 6.5%


The tax is always of 8%, unless there are some exemptions or reductions applicable due to the fact that the buyer has a permanent residency, or lives in the country, territory or region subject to a tax regime more favourable, as indicated on the approved list given by the Ministry of Finance.