AT Wants to Reward Your Ass(ets) in 2021

Lower tax rates on on salaries, reduced VAT on electricity, smaller capitals gains taxes — ooh la la.

If you like working out in a fancy face mask while talking to your real estate broker about that upcoming sale on one of your properties, AT has your fiscal back when it comes to your taxes for 2021.

According to a general newsletter the Autoridade Tributária e Aduaneira (AT) sent out last month, they’ve reduced tax rates on workers’ salaries, VAT on electricity consumption up to 100 kWh (or 150 kWh, in the case of large families), and capital gains from a property, whether as an alojamento local rental, or the sale of a personal or commercial real estate asset.

And they didn’t stop there: apparently, you should be giving your NIF when purchasing face masks and alcohol gel because these have now been determined to be deductible health expenses. Also, if you have a gym membership, the VAT rate has been reduced by 15%, so maybe it’s time to join that Zumba spinning class after all. Hell, throw in a pilates Crossfit package and invite your broker as your plus-one. 

Perhaps most importantly, in order to take social distancing to the next level, the Portuguese Tax and Customs Authority has extended its remote and virtual service channels for all resident taxpayers. The user-friendly Finance Portal “e-counter” is still the best option to access your finances, check your tax status, issue receipts and more, but now they have upped the number of agents at their call center (217 206 707) and opened chat access on the portal under  “contact us” in the lower right corner of the website. Additionally, the AT is inviting taxpayers to check out their explanatory videos on their Facebook page.

Go ahead and give them a like while you’re at it. They’ve earned it.

On Key

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