Portugal to Increase Tax on House Purchases by Foreign Buyers
Portugal has attracted foreign residents with tax incentives and its golden visa program.
Photographer: Goncalo Fonseca/BloombergThe Portuguese government will raise the tax on house purchases carried out by non-residents as part of a series of measures aimed at increasing the supply of affordable homes in the southern European country.
Prime Minister Luis Montenegro announced the plan to raise the so-called IMT tax after taking part in a cabinet meeting in Lisbon. He also confirmed other measures the government has designed to ease the country’s housing crisis.