Expresso newspaper reports that a North American company sold a property worth 3 million euros in Loulé and contested the tax claimed by the Tax Authorities, which considered all the capital gains.

However, the STA agreed with the State, denying the possibility of taxation taking into account only 50% of the gains, as happens for IRS taxpayers.

“The taxable amount of capital gains realised on the sale of property located in our country, by a non-resident company without a permanent establishment in Portugal, applies to its entirety, and the 50% reduction is not applicable”.