The Additional Municipal Property Tax (AIMI) came into force in 2017 as a way to replace Stamp Duty which aimed to individually tax properties worth more than \u20ac1 million.<\/p>\r\n\r\n\r\n\r\n
AIMI is levied on the Taxable Asset Value of all urban residential buildings or land with a construction license held on 1 January of the year to which this tax relates. The tax is levied on individuals and companies who are owners, usufructuaries or superficiaries of urban buildings located in the Portuguese territory.<\/p>\r\n\r\n\r\n\r\n
The taxable value is calculated by adding the Taxable Asset Value (VPT) of all the urban residential buildings or land with a construction license owned as at 1 January of the year to which this tax relates. If the result of this sum is inferior to the value of 600.000\u20ac, there is no need to pay AIMI.<\/p>\r\n\r\n\r\n\r\n
It is important to bear in mind that the sum is reduced by the amount of 600,000\u20ac in the case of individuals and undivided estates. In the case of married couples who opt for joint taxation, this amount rises to 1,200,000\u20ac. In the case of companies, there is no deduction whatsoever.<\/p>\r\n\r\n\r\n\r\n
In order to determine the value on which the tax will be imposed, we can consider the following example: John, an individual, owns three properties in his estate, whose total VPT is 1,500,000\u20ac, from this value we deduct \u20ac600,000, resulting in \u20ac900,000. On this difference value the respective rate will be applied.<\/p>\r\n\r\n\r\n\r\n
Individuals:<\/strong><\/p>\r\n\r\n\r\n\r\n – Over 600.000\u20ac and up to 1.000.000\u20ac: 0,7% Undivided estates:\u00a0<\/strong>0,7%<\/p>\r\n\r\n\r\n\r\n Individuals who opt for joint taxation:<\/strong><\/p>\r\n\r\n\r\n\r\n – Between 1.200.000\u20ac and up to 2.000.000\u20ac: 0,7% Companies:<\/strong>\u00a00,4%<\/p>\r\n\r\n\r\n\r\n Properties owned by entities subject to a more favourable tax regime (based in tax havens<\/mark><\/a>):<\/strong>\u00a07,5%<\/p>\r\n\r\n\r\n\r\n The payment of the AIMI must be made during the month of September of each year, under penalty of the payment of interest in case this deadline is not duly fulfilled.<\/p>\r\n\r\n\r\n\r\n Besides the cases in which the VPT does not reach 600,000\u20ac, there are specific cases that are exempt from the payment of AIMI, namely buildings that were exempt from paying IMI in the previous year, buildings for social housing, among others.<\/p>\r\n\r\n\r\n\r\n\r\n\r\n
– Over 1.000.000\u20ac and up to 2.000.000\u20ac: 1%
– Over a 2.000.000\u20ac: 1,5%<\/p>\r\n\r\n\r\n\r\n
– Over 2.000.000\u20ac and up to 4.000.000\u20ac: 1%
– Over 4.000.000\u20ac: 1,5%<\/p>\r\n\r\n\r\n\r\nAIMI payment deadline<\/h2>\r\n\r\n\r\n\r\n
Exemptions<\/h2>\r\n\r\n\r\n\r\n