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Portugal V.A.T. and Other Taxes

Portugal Value Added Tax
  • In most cases, VAT in Portugal is 23%.
  • There is a reduced rate of 13% that applies to certain services.
    There is a further reduced rate of 6% that relates mainly to basic food products.
  • The VAT rates for Madeira are lower (22%, 12% and 5%).
    In the Azores the V.A.T rate are 18%, 9% and 4%.
  • VAT is payable on assets and services in Portugal as well as on imports into Portugal.
  • Exports from Portugal are exempt from VAT.
  • Income from medications and medical services as well as income from insurance and banking services are exempt from VAT.
  • Reports to the VAT authorities are made monthly but if the annual income is below Euro 650,000 the report is made every three months.
  • When the annual turnover is less than Euro 9,976, income is exempt from VAT; on the other hand, Vat may not be offset against expenses.
Portugal Real Estate Transfer Tax
  • A real estate transfer tax is payable in Portugal on the transfer of real estate.
  • There is an exemption up to a limit if the transfer concerns residential real estate.
  • The basic rate of tax on urban real estate is 6.5%. Non-urban real estate transfers are taxable at 5%.
  • When the buyer lives in a low tax jurisdiction the tax rate is 10%.
Portugal Property Tax
Real estate used as main residence and valued above EUR 1 million is subject to 1% tax.

Portugal Inheritance and Gifts Tax
  • Portugal Inheritance and gift tax was abolished on 1.1.2004, when relating to close relatives, parents, spouses and children.
  • The tax for non close recipients and inheritors was replaced by 10% stamp duty.

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