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IMOnews - Reduction of IMI in leased buildings

The IMI is the municipal tax on the taxable value of rural and urban properties located in Portuguese territory and constitutes revenue for the municipalities where they are located.
The rule dictates that this tax applies to all rural and urban buildings, however, some exceptions are provided for in the law, under which the applicable rate may be reduced or, in some cases, even exempted (cf. , as an example, Article 44 of the Statute of Tax Benefits).

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