Further to the recent negotiations on the 2013-2014 budget, the new Bill of 17 July 2013 imposes a notification measure re private estate and off-shore structures in which Belgian tax payers are, directly or indirectly, involved.
Envisaged structures A new notion is inserted to the Belgian income tax code, the so-called ‘legal constructions’, by which private estate structures and off-shore entities are envisaged.
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Salaries go down as Social Security goes up Private workers will lose one salary, whilst public employees will lose two
It was the first time that a Government measure was received with such unanimous opposition, but when Pedro Passos Coelho announced last Friday (September 7) that all workers would see their monthly contribution to Social Security increase by seven percentage points as of 2013, everyone – regardless of their political stance – agreed to disagree with the Portuguese Prime Minister.
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In December 2003, new rules concerning municipal property tax (Imposto Municipal sobre Imóveis) came into force. A new code was also approved: the Código do Imposto Municipal Sobre Imóveis (CIMI).
Those new rules were created to assess the patrimonial value of urban properties closer to their real market value.
Therefore, almost all new properties completed or traded after December 1 2003 were already evaluated according to the 37th article and the following ones of CIMI.
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Together with the proposed 2012 Portuguese Budget is a document proposing rectification to the 2003 general property reform. The 2003 changes established a 10 year period to achieve a general revaluation for tax purposes of all property in Portugal.
In addition the Memorandum of Understanding concerning the economic assistance promised earlier this year to Portugal by the EU and IMF established a promise that the conclusion of the general revaluation should be achieved by the end of 2012.
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Unfortunately these things happen here as well.
The legal procedures for termination of a marriage agreement by divorce can be relatively straight forward if both partners agree to divorce, are of the same nationality, were married in Portugal, and have nor children or financial commitments. However, for foreign residents living in Portugal this will rarely be the case.
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Agents face a world of lower commissions New ways of working are imposing a world of lower commission rates on overseas property agents.
Online marketing, online lead generation, the economic slump, more sophisticated buyers questioning agency or introducer payment terms, smaller down-payments and a glut of bank repossessions are all combining to push average commission rates down to low single figures in a number of key markets.
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Portugal the last couple of years tries to be a front-runner when it comes to using alternative energy sources. With well over 3000 hours of sunshine no doubt our country offers a lot of possibilities in this respect.
Maybe the following article is interesting to read.
New Jersey school of architecture professor indicates us how to construct an environmental-friendly residence on a budge
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Importation/Registration
The easiest way of acquiring a vehicle with valid Portuguese registration documents is to purchase a new vehicle from an authorised agent in Portugal who will register the vehicle for you. This has the added advantage of having agents close by to provide service, guarantees, and spare parts. However, importation is an option and there can be tax advantages for new residents from within the EU who import a vehicle they have owned for more than 12 months.
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Registry of Hydric/Water Resources Accordingly to the law 226A dated the 31st of May 2007 all owners and tenants of properties of properties that have water resource equipment must apply for an appropriate usage title/license by May 31st. 2009.
This title request is compulsory for all land owners that may have any form of (illegal) hydric resources such as:
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