The heirs are required to confirm their respective shares concerning the Additional Municipal Property Tax (AIMI) by the end of the month, as reminded by the Portuguese Tax Authority (AT) this Monday.
“Until April 30, each heir must submit a declaration confirming their respective shares in the undivided inheritance, as declared by the principal heir, should they wish to prevent the inheritance from being equated to a legal person for the purposes of the Additional Municipal Property Tax (AIMI),” stated a post shared by the AT on the social media platform Facebook.
The Additional Municipal Property Tax is paid annually during September, based on the taxable equity values of properties listed in the registries as of January 1 of the tax year in question.
The AIMI applies to the total taxable equity value of urban properties (including land for construction), excluding urban properties classified as “commercial, industrial or for services” and “others.” Properties that were exempt from or not subject to IMI payment in the previous year are also not covered by this tax.
AIMI targets both companies and individuals, implementing differentiated rates for each type of taxpayer.
