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Madeira Weekly

Local Lodging: Lisbon can accommodate 102,000 holidaymakers

As compared to hotels, “AL” already has twice the capacity to receive tourists in Lisbon. In the nation’s capital which has 500,000 inhabitants, Local Lodging can accommodate 102,000 holidaymakers. In March 2019, there were 18,000 “AL” units in the municipality of Lisbon, an increase of around 80% from 2008, maintaining…

Hybrid lets

Question: I have a local lodging unit that I have only been able to let during the high season. Now I have a potential tenant who wishes to rent the apartment for this eight-month period, from October to May. Can I do this by concluding a contract for the period…

High-value business activities given streamlined application

Foreign residents applying for Non-Habitual Resident status with high-value-added business activities (“VTA”) may now receive prompt approval for a flat-rate tax of 20% on earned income in income categories A or B (salaries and sole trader income). Under previous practice, “VTA” approval was individualised and could take a year or…

Foreign student enrollment has quadrupled in a decade

In 2019, 50,000 foreign students have officially registered in universities and polytechnic institutes in Portugal. Over the past four years, the number of international students has increased by 48%, as a result of the validation of the international student status in 2014 along with the growth Study and Research Programmes…

Consequences of hiding assets or income from the tax authorities (“AT”)

As a rule, intentional omissions or inaccuracies in fiscal declarations or other tax relevant documents are punishable by a fine of between €375 and €22,500 for individuals or €750 and €45,000 for companies. Also, these infractions are punishable as the crime of tax evasion if the outstanding assessment is €15,000…

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