Although Decree Law no. 80/2017 from the 30th of June primarily refers to tourist accommodation establishments, it also introduces some changes and updates to the AL legislation. Continue reading
As described in my blog post CGT in Portugal, the sale of a property may cause CGT liabilities when, in simple terms, the sales price (valor de realização) is higher than the purchase price (valor de aquisição).
Owners of AL properties have been caught by surprise when they heard about potential CGT liabilities associated to the business activity of renting out their property to holidaymakers (CAE 55201 and 55204). Continue reading
The new law for local lodging (Alojamento Local – AL) – Decree Law 128/2014, published on 29th of August 2014 – makes it mandatory for income received from short term property lettings to be declared to the tax department as business activity. This law will come into force next November 27th, adding substantial changes to the existing law from 2008.
If you let out your furnished property (Alojamento Mobilado para Turistas) on a short term basis (less than 30 days) or if it is advertised in any form as tourist accommodation, you will have to: Continue reading