Tag Archives: increase

Non-habitual residents register 26% increase in 6 months

27 Thursday Jun 2019

Posted by in Posts

≈ Comments Off on Non-habitual residents register 26% increase in 6 months

Tags

, , , , , , , , ,

Despite an inauspicious start in 2009, the “NHR” programme has gained relevance, attracting thousands EU “tax refugees” to Portugal. Since 2014, new applicants have increased by 1400%. Between September of 2018 and March of this year, the number of new non-habitual residents rose by over 26%. Brazilians recorded the most significant jump with a gain of 52%, surpassing the Swedes. Citizens who qualify for “NHR” status pay “IRS” at a flat rate of 20% when they are linked to high added-value activities in Portugal. However, this group of targeted professionals accounted for just 7% of total applicants. Most are pensioners, seeking a 10-year tax holiday on their retirement benefits. In 2017, new “NHR” retirees numbered almost 10,000.

Tourism to increase by over 5% in 2019

01 Monday Apr 2019

Posted by in Posts

≈ Comments Off on Tourism to increase by over 5% in 2019

Tags

, , , , ,

The World Travel & Tourism Council estimates that tourism in Portugal will expand by 5.3% in 2019, more than double the European average of 2.5%. Last year, the sector grew by 8.1%, contributing €38.4 billion to the Portuguese economy, a total of 19.1% of the country’s overall economic activity.

Climate change in Portugal: more summer

01 Monday Apr 2019

Posted by in Posts

≈ Comments Off on Climate change in Portugal: more summer

Tags

, , , , , , , ,

Over the past four decades, global warming has taken hold in Portugal according to statistics gathered by the Instituto Português do Mar e da Atmosfera ‑ IPMA. Maximum temperatures have increased by 1.6ºc over the past 40 years and summer has stretched by 6 more weeks in the north and centre of the country, as defined by the number of days with temperatures above 25ºc. This trend has been less pronounced in the south. There has also been less rain leading to more frequent severe droughts.

Theft increase in Lisbon “AL” Establishments

20 Wednesday Feb 2019

Posted by in Posts

≈ Comments Off on Theft increase in Lisbon “AL” Establishments

Tags

, , , , , ,

The distraction of holidaymakers and the lack of security at some “AL” flats have led to a rise in thefts at Local Lodging establishments, mainly those located in the  “Baixa” district of downtown  Lisbon. In response, law enforcement (“PSP”) has started a prevention program with the owners called “Blue Lock”.

Stamp Duty due on annual rent increases

07 Friday Dec 2018

Posted by in Posts

≈ Comments Off on Stamp Duty due on annual rent increases

Tags

, , , , , , ,

If you are a landlord and, during the term of a lease, increase your tenant’s rent by the amount of inflation (the maximum allowed by law), you must inform Finanças what the new rent will be. This communication to the Tax Authority is mandatory and can lead to the payment of a 10% Stamp Duty on the amount of the monthly rent increase.

The new value must be communicated through the “AT” website by the end of the month following the month in which the change occurs. Payment can be made at the Local Finanças office, at an ATM or via electronic banking. When communicating the change online, you will be issued a payment note with the multibanco payment reference on the “AT” website.

If the amount due is less than €10, there is a technical exemption, and no tax is due.  For example, you charged a monthly rent of €500 in 2017. The inflation adjustment percentage is 1.15% or €5.75. The difference is less than €10 so no Stamp Duty is due.

Tourism weight in economy increases 47% in eight years

08 Monday Jan 2018

Posted by in Posts

≈ Leave a comment

Tags

, , , , ,

According to data from the National Statistics Institute (INE), holidaymakers spent more than €23 billion in Portugal in 2016. Over 28 million visitors entered the country. The number of overnight stays exceeded 144 million. Tourism is growing four times faster than the rest of the Portuguese economy and represents 7% of the gross domestic product.