IMI (Imposto Municipal sobre Imóveis) is the Portuguese municipal tax applied to properties introduced in the country in 2004 to replace the old municipal property tax called Contribuição Autárquica. Since that year, the tax has been subjected to some changes. The most recent is based on the coefficient of "location and relative operability".
From now on, that coefficient, which is an assessment parameter of the "quality and comfort coefficient", may be increased up to 20% or decreased up to 10%, against a current variation of 5%.
Here's an example: imagine a third-floor flat, whose apartments have the exact same area, but the last floor has a greater sun exposer and a better view compared to the others. Nowadays, these factors can influence the assessment of the property value by 5% (upwards or downwards). From now on, this variation can reach 20%, if positive, or 10%, if negative.
However, it is important to note that this change in the "quality and comfort coefficient" will only be applied to properties that will be subjected to a new assessment, since the AT (Autoridade Tributária, the Portuguese taxes and customs authority) won't make those changes reflect automatically on the current property value.
Check here the details of this new rules, and know about their impact on your IMI.
On the Spot Firm is a service which allows the immediate incorporation of companies at the Corporate Formalities Centres and Business Registration Offices. This service makes possible to create a company in just one office in a single day.
Interested parties no longer have to obtain, in advance, a certificate of company admissibility from the National Registry of Companies (RNPC), nor is necessary to sign a public deed.
During the incorporation procedure, the definitive legal person identification card is handed over, the Social Security number is given, and the company received immediately its memorandum, articles of association and an extract of the entry in the Commercial Register.
Through the "Empresa na Hora" (On the Spot Firm) service, Portugal has thus become one country in Europe where setting up a company is now:
Given this, and in order to help you, we have created a video, prepared a set of faq's and listed all items needed for the process, so you can be prepared when it comes the time to open your Portuguese company.
The traditional lease and Local Accommodation (Alojamento Local [AL] ) are different and have their own legislation.
The main difference between the two is that, unlike the traditional lease, the Local Accommodation provides a service that demands much more than the simple accommodation. The Local Accommodation requires assets like furniture, home appliances, bed sheets, bath towels, kitchen equipment and other facilities, very similar to the hotel industry.
Given its particularities, people usually have doubts, especially concerning the taxation of their profits and legal requirements.