The Portuguese Government recently launched an important measure to support young people in buying their first home. Recognizing the difficulties in accumulating savings and achieving a stable professional situation, this new legislation exempts young people from paying IMT and stamp duty on the purchase of their own and permanent housing.
Below, we answer some of the most common questions to help you better understand how you can benefit from this exemption.
1. Who can benefit from the IMT and stamp duty exemption?
Young people aged 35 or under at the date of purchase who are not considered dependents for the purposes of Article 13 of the IRS Code.
2. What are the fiscal requirements?
In addition to not being dependent in the year of purchase, you must not have had ownership rights or any partial figure over a residential urban property at the date of purchase or in the three years prior.
3. What is the property value limit for the exemption?
The exemption only applies to properties with a purchase value of up to €316,772.00.
4. What happens if I buy the house with my spouse?
The conditions for the exemption are verified individually. If one of the spouses does not meet the requirements, they will still be subject to IMT and stamp duty.
5. When does this exemption come into effect?
The exemption is valid from August 1, 2024.
6. What are the conditions to maintain the exemption?
The exemption will expire if you become considered dependent again within six years of purchase or if, within the same period, you give the property a different use than the one on which the benefit was based.
Calculate the taxes due on the purchase of your own and permanent housing
To facilitate the understanding and practical application of the new IMT and stamp duty exemption measure, we have developed a simple and intuitive calculator. This tool allows young people aged 35 or under to quickly calculate the taxes that would be due on the purchase of their own and permanent housing.
Just enter the property’s purchase value and click on “Calculate Taxes”. The calculator will immediately provide the IMT rate and stamp duty amount, as well as the total taxes to be paid, considering the applicable exemption.
Try our calculator below and better plan your real estate purchase with all the necessary information.
Calculadora de IMT e Imposto de Selo
Para jovens com idade igual ou inferior a 35 anos na aquisição de habitação própria e permanente.
We hope this information helps you better understand the benefits of IMT and stamp duty exemption for young people.
If you have any additional questions, do not hesitate to contact us.
