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VAP - Real Estate | Algarve Properties

IMT - Municipal Property Tax Transfer is a tax on onerous transfer of ownership, or parts of properties rights, who are located in Portuguese territory, and some other situations that the law equals for properties transmissions costs.

IMT Rates

Depending on the nature of the purchase, the rate can range in:

  • Agricultural land: 5%
  • Urban buildings exclusively for housing : between 1% and 6%
  • Urban buildings, exclusively for own permanent housing: up to 6%
  • Other buildings and other purchases: 6.5%
  • Buildings acquired by entities benefiting special tax polity: 8%

How to calculate IMT ?

To calculate the IMT to pay for costly transmission property rights in Portugal, you have to:

  • Choose the IMT table, corresponding to the property location and its use
  • Identify what range is the home's value in (the used value shall be the higher of these two values: the acquisition value, and asset value)
  • Multiply this range with the applicable rate
  • Deduct the amount from the value obtained

* This information is based in January 2013 current legislation
** Through the Portuguese Financial Ministry Portal, you can have all information on exemptions, the taxable amount, applied rates, tax settlement, etc

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