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Real Estate Sales Tax to Increase on High-End Homes in Portugal

17 December 2019 – The Portuguese government will increase the real estate sales tax (IMT) on homes costing or worth over one million euros. Whereas the top rate was 6% on sales of homes costing more than 574,323 euros, the new rate will rise to 7.5% in 2020. The government will also apply the new rate to secondary and rental homes.

The tax authorities are basing the IMT rate on the property’s purchase price and its asset tax value (VPT), whichever of the two is higher.

Original Story: Economia Online – Rita Neto & Nuno André Martins

Adaptation/Translation: Richard D. K. Turner