Beginning in January of 2020, a modified catalogue of business activities comes into force, benefiting a favourable tax regime aimed at attracting professionals with diverse skills to Portugal. These occupational profiles are now extended in light of the difficulties experienced by employers in various sectors in hiring workers since the inception of the Non-Habitual Residency Regime 10 years ago. Continue reading
Location coefficients will be updated this year. ASAVAL (Association of Professional Appraisers), the Association that represents real estate evaluators, recognises that the market has gained stability, but reminds the public that the coefficients have to continue to reflect the dynamics of the market. The last revision of the Location Coefficient occurred in 2015 and had an impact on tax assessments for 2016, 2017 and 2018.
The “AT” (Tax Authority) has revealed plans to review the Location Coefficient (“CL”) of immovable properties by the end of August. The new localisation factor will be approved by the end of the year, coming into effect in January 2020. Finanças targets updates to the Ratable Value of real estate (“VPT”) at 85% of average property prices in each location.