Real Estate Transfer Tax (IMT)
Determination of IMT rate for the transfer of residential urban properties
The brackets for determining the IMT rate applicable to the transfer of urban properties, or building units of urban properties, intended exclusively for residential use, are updated by 2.3%.
As a result of this change, in case of acquisition of an urban property or a building unit of an urban property intended exclusively for permanent residential use, IMT is only due if the taxable basis exceeds € 104.261 (currently € 101.917).
The brackets for determining the Real Estate Transfer Tax (IMT) rate for residential urban properties are updated by 2.3%.
Stamp Tax
Transmission of data between the Institute of Registries and Notaries, the Treasury and Public Debt Management Agency, and the Tax Authority
The Stamp Tax Code now includes provisions for data transmission between the Institute of Registries and Notaries, the Treasury and Public Debt Management Agency, and the Tax Authority. This includes information on the death of holders of public debt securities and certificates, to ensure compliance with tax obligations.
Exemptions in the context of housing credit
The exemption for housing credits, up to the amount of the outstanding capital, is extended until 31 December 2025, concerning:
(i) changes in the term resulting in tax payable due to the applicable rate differential;
(ii) extension of the term; and
(iii) entering into a new housing credit contract for debt refinancing. In this last case, the exemption covers the guarantees provided, as well as guarantees provided in the case of a change of the credit institution or subrogation in the rights and guarantees of the mortgage creditor.
Fixation of Instalments in housing credit
The exemption for the tax on facts provided for in item 17.1 of the general table (granting of credit) in the context of temporary installment fixation and capitalization of deferred amounts in the value of the loan for own and permanent housing is extended until 31 December 2025.
Levies
Extraordinary Levy on the Energy Sector (CESE)
Remains in force.
Audiovisual Levy
The monthly contribution amounts are not updated.
Bank Levy
Remains in force.
Solidarity Surcharge for the Banking Sector
Remains in force.
Pharmaceutical Industry Levy
Remains in force.
Extraordinary Levy on Suppliers of Medical Devices to the National Health Service
Remains in force.
Tax Compliance
Valuation of Inventories
All taxpayers are exempt from the obligation to value inventories for the tax year starting on or after 1 January 2024.
Taxpayers not required to maintain a permanent inventory are also exempt from this obligation for the tax year starting on or after 1 January 2025.
PDF invoices
Until 31 December 2025, invoices in PDF format are accepted and considered as electronic invoices for all purposes provided for in tax legislation.
General Waste Management Regime – Printing of Invoices and Other Fiscally Relevant Documents
The prohibition on the systematic printing and distribution of receipts, as provided for in the General Waste Management Regime, does not affect the printing of invoices and other fiscally relevant documents.
SAF-T (PT) Accounting File
The obligation to submit the SAF-T (PT) file related to accounting will apply to periods from 2026 onwards, to be submitted in 2027 or in subsequent periods.
2025 State Budget Law Proposal
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2025 State Budget
Follow the tax changes introduced by the 2025 State Budget Law Proposal. PwC clarifies your doubts!
Levies
Extraordinary Levy on the Energy Sector
The Extraordinary Levy on the Energy Sector (“Contribuição extraordinária sobre o setor energético” or “CESE”) is maintained in 2024, being amended as follows:
CESE applies to raw petroleum and petroleum products transport operators that are part of economic groups of operators refining or storing crude oil or petroleum products.
For the purposes of the computation of CESE, assets do not include those the Portuguese environmental agency (“Agência Portuguesa do Ambiente, I.P.” or “APA”) qualifies in certain categories of environmental impacts, under the european regime to promote sustainable investment, regarding assets acquired from January, 2024 onwards.
Levy on lightweight plastic bags
Lightweight plastic bags shall be taxed at EUR 0.04, per bag, in Portugal mainland, due by the ultimate buyer.
This will include bags acquired on the sale of bakery products and fresh fruits and vegetables.
Levy on single use plastic packages
Article 320 of Law 75-B/2020, of 31 December (2021 State Budget Law) and Decree 331-E/2021, of 31 December, is revoked in what concerns the levy on single use packages made of plastic, aluminium or a mix of plastic and aluminium. A broader levy is due in single use packages, including composed packages:
- on take away;
- home delivery; and
- to store meals ready for consumption in the place of supply to the final consumer.
The levy is set at EUR 0.10 per package in Portugal mainland, and can be passed along the economic chain. However the final charge levy to the final consumer cannot be less than EUR 0.30 per package.
The packages fully recyclable, in monomaterial and incorporating, on average, at least 25% recycled materials, are exempt of this levy.
This is disallowed in the case of single use packages:
that store meals ready for consumption but whose storage did not occur in the sales point;
made available in the supply of non sedentary restoration activities; and
made available in vending machines.
Audiovisual levy
There is no update on the monthly amounts of the audiovisual levy.
Bank levy
The bank levy is maintained.
Solidarity surcharge for the banking sector
The solidarity surcharge for the banking sector ("Adicional de Solidariedade Sobre o Setor Bancário") is maintained.
Pharmaceutical industry levy
The extraordinary pharmaceutical industry levy is maintained.
Extraordinary levy on suppliers of medical devices to the national health system
The extraordinary levy on suppliers of medical devices to the national health system is maintained.
Transitional provisions relating to tax obligations
Valuation of inventories
All taxpayers are exempt from the obligation to value inventories for the tax period beginning on or after 1 January 2023. Taxable persons who are not required to maintain a permanent inventory are also exempt from said obligation for the tax period beginning on or after 1 January 2024.
Invoices in PDF files
Invoices in PDF files will be accepted until 31 December 2024, and these will be considered electronic invoices for all purposes provided for in tax legislation.
Accounting SAF-T (PT) file
The submission of the SAF-T (PT) file relating to accounting will be applicable to the 2025 and subsequent periods, to be delivered in 2026 or subsequent periods.
General Waste Management Regime - Printing of invoices and other fiscally relevant documents
The prohibition on the printing and systematic distribution of receipts, provided for in the General Waste Management Regime, does not affect the printing of invoices and other fiscally relevant documents.
Stamp Tax
Fixing of installments on housing credit
An exemption will be established for the tax levied on facts set out in Item 17.1 of the general table (use of credit) within the scope of operations to temporarily fix the installment and capitalize deferred amounts in the value of the housing credit. This measure applies to facts that occur as from the date of entry into force of the law establishing the fixation of benefits.
Banco Português de Fomento
The current exemption applicable to acts, contracts and operations in which the European Union institutions and the European Investment Bank are participants or recipients, will also include Banco Português de Fomento.
Free transfers not subject to Stamp Tax
Although the exemption for donations and inheritance between spouses or civil partners, descendants and ascendants is maintained, it is established that donations up to the amount of EUR 5,000 between them are not subject to Stamp Tax, which, in practice, means that there is no longer an obligation to declare such donations to the Portuguese Tax Administration (previously, all donations exceeding €500, except in cash, had to be declared).
Subjective exemption of the State
In addition to the general subjective exemption of the State, an exemption is established for operations carried out through Direção-Geral de Tesouro e Finanças, regardless of the holder of the tax burden.
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