Start Date

28-11-1988 12:30 PM

End Date

28-11-1988 2:30 PM

Description

The recent tax reform in Portugal introduce a general income tax to replace a number of different taxes. Also the present rural and urban property tax based on rental values wil be replaced by a new property tax based on the capital value of the properties. The new property tax wiII probably be levied from 1989. The paper will telI about the importance of the old property taxes and the expected importance of the new property tax. The new property tax will be a municipal tax and for the first time the rates will be decided by the municipalities within certain Iimits. The paper will also describe the old and the new methods of valuation. Emphasis will be put on urban residential properties. Also the situation concerning the basic information for the valuation will be described and the role of the new valuation system for the administration of other taxes.

Publication Date

November 1988

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Nov 28th, 12:30 PM Nov 28th, 2:30 PM

Property tax reform in Portugal

The recent tax reform in Portugal introduce a general income tax to replace a number of different taxes. Also the present rural and urban property tax based on rental values wil be replaced by a new property tax based on the capital value of the properties. The new property tax wiII probably be levied from 1989. The paper will telI about the importance of the old property taxes and the expected importance of the new property tax. The new property tax will be a municipal tax and for the first time the rates will be decided by the municipalities within certain Iimits. The paper will also describe the old and the new methods of valuation. Emphasis will be put on urban residential properties. Also the situation concerning the basic information for the valuation will be described and the role of the new valuation system for the administration of other taxes.