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IMT Table 2014

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IMT: Property Transfer Tax 2014

Property Transfer Tax (“IMT – Imposto Municipal sobre a Transmissão Onerosa de Imóveis”) is a municipal tax levied on the transfer for consideration of real estate located in the Portuguese territory. Such transfers may also be subject to Stamp Duty. The acquisition of more than 75% of the share capital of a company incorporated as “sociedade por quotas”, which owns real estate located in Portugal, is subject to IMT.

Description Rates (%)
Rural property 5
Other urban properties and other acquisitions for consideration 6.5
The acquirer is a company which is tax resident in a blacklisted offshore jurisdiction (eg Gibraltar, Panama, Channel Islands etc) 10


Urban properties or property units considered solely as a permanent place of residence:

Rate (%)
Value (€) Marginal Average*
Up to 92,407 0 0
+ 92,407 until 126,403 2 0,5379
+ 126,403 until 172,348 5 1,7274
+ 172.348 until 287.213 7 3,8361
+ 287,213 until 574,323 8 5.92
+ 574,323 6 (single rate applies to price)
* At the upper limit of the scale


EXEMPTIONS

Some examples of exemptions include:

Acquisition of properties for resale by Real Estate companies
Acquisition of real estate by Open-end Real Estate Investment Funds or by closed-end of public subscription
Acquisition of real estate by Real Estate Investment Funds for Residential Letting (FIIAH)
Operations of concentration or cooperation (such as mergers and demergers)
Acquisition of an urban property, object of urban rehabilitation
Acquisition of buildings classified as of national / public / municipal interest

Investment Promotion Tax Regime (RFAI)

Companies that make relevant investment from 2013 to 2017, may benefit from IMT exemption on the acquisition of real estate property regarded as eligible investment.

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