Capital Gains Tax (CGT) is one of the major matters of interest when it comes to deciding where to buy a property, so it might be worthwhile knowing how it is calculated in Portugal.
If you have bought your property after the 31st of December 1988 and sell it with a gain, this gain will be taxed in two different ways, depending if your are resident or non-resident in Portugal. Properties purchased before 1989 are exempt from CGT. In any case, even if the property is sold without a gain or exempt from CGT, a tax declaration must be filed. Continue reading