Between 2008 and 2016, more than 220,000 foreign nations chose to become Portuguese citizens. Brazilians submitted the most requests. In 2016, Portugal granted nationality to 29,351 foreigners, a record since 1996, according to data from the National Institute of Statistics.
Airbnb announced that, since 01 May 2016, it has already delivered almost five million euros to the City de Lisbon from the collection of levies on holidaymakers. To date in 2017, the amount collected has been €3,100,000. Airbnb is the only internet hosting platform to collect the Tourist Tax (one euro per night per person) on behalf of the Lisbon City Council.
Prices for Local Lodging (“AL”) rose in the historic centres of Lisbon and Oporto during the first half of 2016 according to the “Confidencial Imobiliário Index”. The average cost of “AL” accommodations increased by 4.6% in the historic districts of Lisbon and 0.3% in the centre of Porto.
The aggregate tourism turnover rose 17% last year to 3,075 million euros. The number of holiday makers jumped to 19 million, an increase of 10%. By geographical distribution, the greatest concentration of tourist beds continues to be the Algarve, with one-third of the total. Lisbon accounted for almost 20%.
Lisbon, the city that pioneered the levy in Portugal, charges 1 euro on each night in the capital. The assessment brought more than 11 million euros to Lisbon in just 10 months. Vila Real de Santo António and Cascais are set to follow the example in 2017. Porto also contemplates launching a Tourist Tax but only as of 2018. Aveiro attempted to implement the measure in 2013, but a year later, suspended the fee.
The Common Reporting Standard (CRS) is an information system for the automatic exchange of tax information, developed in the context of the OECD. So far, 98 countries have signed up with more expected to join in the near future. Until now, the parties to most Double Tax Treaties in place for sharing information have done so only upon request. This approach has not always proven effective in preventing tax evasion. The new method is supposed to transfer all relevant information automatically and systematically. Continue reading