The Portuguese Tax and Customs Authority (AT) reminded this week that the deadline for communicating long-term contracts is approaching so that landlords can access the IRS rebate.
According to idealista/news, a partner of H URB, this declaration applies to housing contracts entered into before 1990 and non-housing contracts entered into before 1995: “For these situations, the taxable value is calculated by multiplying the annual value of the rents by 15,” emphasises the AT, adding that “if this value is lower than the taxable value resulting from the valuation of the property, this is the value on which the IMI rate will be levied.”
Owners must submit the declaration via the “Portal das Finanças” by 15 February, and must log in with their AT data or authenticate with a Citizen’s Card.
The IRS discount came into force in 2019, providing for a reduction in the IRS rate for landlords who enter into lease agreements lasting two years or more. The reduction will be greater depending on the length of the contract, and the benefit will only be applied if the landlord notifies the AT within the stipulated period.