According to a report by ECO, the State Budget for 2023 (OE2023) will reinforce restrictions on local accommodation activity. The Socialist Party proposes to extend the limitation of new licenses in areas considered to be under pressure until the end of next year.
“Considering that the procedure for amending the regulation, which must regulate and justify the creation of containment areas for new local establishments, is demanding from the point of view of complying with all formalities and that the treatment and analysis of the definitive results of the 2021 census are essential to carry out the evaluation of the same, the period of 1 year may appear to be insufficient for its effectiveness and due consideration”, justifies the parliamentary bench of the PS.
Also, in relation to local accommodation, according to the PS amendment proposal, the Government will authorise the councils, under deliberation of the municipal assembly, to define an “increase of up to 100% of the IMI rate” for real estate involved in this activity “in areas of urban pressure”.
Yet another tax grab. They doubled IMI for companied owned company in 2017 which they call AIMI. They also doubled the water bill 2x also for company owned properties. Now they will want to double IMI again for companies that own AL properties.... looks like it might be time to pack-up and leave this country and invest in another company tax friendly country.
By Eliot from Lisbon on 26 Dec 2022, 17:09
The government should crack down on unauthorized AL owners and the companies they work with (eg AirBNB). Everyone knows that a large percentage of properties off the long term rental market are unauthorized ALs. AirBNB and other companies should be required to verify that any listings are legally compliant. It’s where tax dodging and the housing crisis intersect.
By Alan from USA on 02 Mar 2023, 15:25
looks like it might be time to pack-up and leave this country and invest in another company tax friendly country.... Many have, the number of immigrants investing in this country is very small, there will be more money leaving this country than coming in, I for one will never invest one cent here, our fortune has slowly evaporated over the years, better go before it's all dust.
By John Martindale from Algarve on 15 Apr 2023, 12:18