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Taxes

This information is for guidance only and in each case you should consult with your solicitor or Lita Gale Solicitors for a "without compromise" introduction to the legal process of buying and selling property in Portugal as well as renting and bulding your own property.

Rates

There will be paybale the equivalent to Rates. The amount payable is calcualted by reference to the registerd value of a property.

Income Tax

This is payable on any rental income after deducting teh usual expenses that may be decucted from teh rental income.

Capital Gains Tax

This is payable on the sale of the property by reference to the purcahse price and the sale price or the registered value and the sale price whichever is the lowest.

There may be deductibel any improvements works and legal expenses and in some cases the purcahse price can be updated by reference to the equivalent to the inflation rate.

Non residents of Portugal pay tax at the rate of 25%.

Inheritance Tax

Payable on death and in some instances not at all or at a much lower rate than that payable in the UK or exempted.