Touristic Licenses & tax Implications

[DrQ]

I am looking at buying a property in Portugal for rental purposes. A property I was especially interested in I am told will operate, when open under a touristic license.

I have requested information on the tax implications but have receieved only vague replies as yet. The little information I do have at the moment suggests that the personal tax levied will be higher and that the normal tax deductibles (condo fees, repairs, IMI council tax etc) may no longer apply.

Any info that on this subject would be greatly appreciated.

Regards.

 

[James Glassbrook]

All rental properties need to be licenced.
All income needs ( should) be declared.
If you want to discuss your situation perhaps a Portuguese accountant would be a good idea.
Jim

 

[Somabonus]

To licence it be prepared do stay hours in people lines and and do not forget about the enerfy certificate and the sound test! the licence to run the tourism business will cost you maximum 140 euros + fees of the consultant which will me maximum 100 euros ( as far as I am concerned ) and minimum of 25 euros but that is almos impossible as it requires always more than 1 hour to do that. The energy certificate has different prices for different properties. It goes from 125 euro up to 800 ( if a single type 1 apartment or over 500 sqm size villa ); It surely is better be legal and be saved of the fines than try to win a bit more and lose much more! ASAE is around!