Ensure you are as tax-efficient as possible with wealth tax planning.
Portugal’s equivalent to wealth tax works a little different than it does in Spain or other countries.
You should be aware that wealth tax in Portugal only affects homeowners, not tenants.
If you own a property in Portugal, you will pay IMI (Imposto Municipal sobre Imóveis). IMI is similar to council tax in the UK. Just like council tax, the rate depends on the area. However, there is an additional tax applied to properties over a certain value.
AIMI (Adicional Imposto Municipal Sobre Imóveis) is Portugal’s version of wealth tax. AIMI affects those with a property worth over €600,000. If you and your partner co-own a property, your €600,000 allowances are combined. This means that AIMI only applies to a property worth over €1.2 million.
The rates are based on a percentage of the total property value as follows:
For a more detailed breakdown of tax in Portugal, you can download our guide. However, if you would like more information relating to your circumstances, contact one of our advisers using the form below.
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