The challenging issue with Tax Rep is that many GV applicants do not see the need or value for this. Considering that GV applicants now donāt have the immediate need to move to PT yet and the long delays with GV processing and approval, the Tax Rep fee is basically just a give away to your lawyer. Tax Rep, when you are not resident in PT and not earning PT income and also while waiting for oneās GV application to be approved, would be a service that is rarely used.
I pay EU200/year. Sheās not a lawyer nor an accountant but my income and tax declarations are simple.
1200 a year plus VAT. They are also doing our income taxes from rental property an expenses associated with it.
To make sure we are comparing apples to apples here, we should specify if tax representative includes preparation of Portuguese income taxes or not. It seems some peopleās do. Mine does not. We pay about 100 euros for representation and about 250 euros for tax preparation for income solely for a rental property in Portugal.
Does anyone have a good recommendation for someone under 500? Our lawyers want 800 which seems absurd (coming from a USA CPA over here!)
Dear All,
We bought the house 2 years ago. No news from GV yet still waiting the pre approval. The house is not rented so we dont have any income. So can you help me to understand IMI Tax? Last year they said that we dont have to pay. But i think second year we should pay it? We have tax rep. and just paid the representative fees last year.
Thank you
Hello @tuceyuksel,
IMI is paid every year, in two installments. It is an equivalent of U.S. Property tax and assessed based on the property value at the time of sale. First installment is to be made prior the end of May, and the second one is before the end of November (I believe). If you have access to the Portal das FinanƧas (https://www.portaldasfinancas.gov.pt/), you should be able to log in and find your IMI payment due. Then you can pay it directly from your Portuguese bank account by a direct transfer.
If you have your fiscal representative, they should be in position to help you with it.
I am a bit surprised when they said that last year you didnāt have to pay any IMI tax. You might want to check with them again, unless you paid it at the time of purchase.
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Hi Joel, our tax representative charges 120 Euros/year/person. We are from the US and bought a Touristic apartment in Lagos for our GV investment. We needed a very knowledgeable tax representative to help us with the percentage they pay us each year. Steven has been fantastic and has set up our IMI payments as well. His wife is a Solicitor in Lagos who is also very good and reasonable.
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My wife and I pay Euro 250 per year for tax rep and Euro 80 for tax prep. Weāre non residents with only the rental income. If youād like to try them, please PM me.
I am a US resident invested in a fund for GV. I have no Portugal income. I do not live in Portugal and I do not plan to live there soon.
I am currently paying 600 EUR/year for tax rep from a tax firm in Portugal. It is not the same firm as the law firm helping me with GV. Can I just tell the Portugal tax firm I donāt need them anymore? Should I get my password from them for the fiscal website or anything else first?
Yes, you can, and yes, you should obtain your password from them as it would make things easier:
Hi Taufiq
I am interested in your tax prep contact if you wouldnāt mind passing.
Thanks
Can you pm me your tax rep details too? And is the tax rep based in Lisbon?
My tax rep used to be NIFOnline until I cancelled the representation upon moving to PT.
They are based in Lisbon as far as I know.