Tax Benefits for Real Estate Improvements - Urban Rehabilitation


The Article 45 of the EBF (Tax Benefits Statute) continues to provide access to tax exemptions on IMT (Municipal Tax on Transactions) and IMI (Property tax) in cases of Urban Rehabilitation, but there have been significant changes to its text in recent years, which have made its scope more restricted.

Its object is now limited to the verification of the following cumulative conditions:
  • Intervention on an urban building or autonomous fraction with more than 30 years or located in urban rehabilitation areas;
  • The property has been subject to a rehabilitation intervention promoted under the terms of the Legal Regime for Urban Rehabilitation;
  • The conservation status is two levels above the pre-intervention state and has at least a good level under the terms of the applicable legislation - Decree-Law no. 266-B / 2012, of 12/31 and its amendments;
  • The requirements for energy efficiency and thermal quality are complied under the terms of the applicable legislation, in particular the Decree-Law No. 118/2013, of 20/08, and its amendments.

Having fulfilled the requirements listed above, the main benefits granted are:

  • Exemption from IMI for a period of 3 years, from the year of the completion of the rehabilitation works, which can be renewed, by request of the owner, for an additional 5 years in the case of properties leased or used for permanent housing;
  • Exemption from IMT on the acquisition, provided that the acquirer starts the respective works within a maximum period of 3 years from the acquisition date;
  • Exemption from IMT in the first transmission, subsequent to the rehabilitation intervention, when destined to lease for permanent housing or, when located in an urban rehabilitation area, also for own permanent housing;

The mentioned exemptions are granted after the collection of the respective taxes, so they are always given as a refund.

According to the most recent legislative amendment - Law no. 114/2017, of 12/29 - the recognition of the rehabilitation intervention must be requested with the previous communication or with the licensing request to the competent city council, being the responsibility of the city council (or if applicable, the managing entity of the urban rehabilitation) to communicate this recognition to the Tax Authority department of the area of the property.

This communication is made within a maximum period of 20 days from the date of the determination of the state of conservation resulting from the works, or from the issue of the respective energy certification, if later.

The effective refund of the taxes paid must be made by the Tax Authority services within a maximum period of 15 days from the communication referred to above.

6 comentários:

  1. The estate tax is a tax levied on large estates when assets pass from the decedent to beneficiaries.

    London tax specialist

    ResponderEliminar
    Respostas
    1. The estate tax is only levied on inheritances when there is a transfer of real estate to someone which exceeds his share held in those assets (and is charged only on the excess).

      Eliminar
  2. I'm  here to share my testimony of what a good trusted loan company did for me. My name is Nikita Tanya, from Russian and I’m a lovely mother of 3 kids I lost my funds on trying to get a loan it was so hard for me and my children, I went online to seek for a loan assistance  all hope was lost until one fateful day when I met this friend of mine who recently secured a loan from a very honest man Mr, Benjamin. She introduced me to this honest loan officer Mr, Benjamin  who helped me get a loan within 5 working days, I will forever be grateful to Mr Benjamin, for helping me get back on my feet again. You can contact Mr Benjamin via email: 247officedept@gmail.com    they do not know I’m doing this for them, but i just have to do it because a lot of people are out there who are in need of a loan assistance  please come to this honest man  and  you can be save as well .WhatsApp:(+1 989-394-3740)

    ResponderEliminar
  3. The information you have updated is very good and useful,plse update further. if you required any info about VAT Return Services in London,
    vat return service in London

    ResponderEliminar
  4. Excellent post. keep posting like this kind of content Payroll Software India is a leading software company in India. They outsource software. This software is based on cloud usage.

    ResponderEliminar
  5. hola a todos, soy adorjan adelmo de yasinya village ukraine y solo quiero agradecer rotundamente a pedro financial credit services por su sinceridad, apertura, transparencia, veracidad, amor y apoyo durante y después de recibir los fondos del préstamo. He pasado por muchas cosas en la vida y el tiempo no me permite decir todo lo que pasé en el año de la pandemia, pero Dios respondió a mis oraciones a través del apoyo y el amor de los servicios de préstamos financieros de pedro que me abrazaron y me entendió a pesar de mi duda inicial y falta de seriedad y con su buen corazón y amor, ahora soy propietario de una casa a través de sus 3 fondos de préstamos de tasa de interés y me he comprometido a difundir esta noticia y también decirle al mundo que todavía hay genuinos y pocos buenos en línea. empresas de préstamos que pueden ayudar y también revivir un hueso seco como yo. No deje de escuchar y leer este testimonio porque esta es una verdadera experiencia que cambia la vida y cualquiera que necesite este tipo de cambio no debe dudar o dudar de esto porque he probado y juro por Dios en el cielo que esta historia es real y también la historia de mi experiencia con ellos. comuníquese con ellos hoy para obtener préstamos consolidados, préstamos comerciales, préstamos hipotecarios, préstamos para automóviles, préstamos personales. correo electrónico: pedroloanss@gmail.com

    ResponderEliminar