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Government squashes Left Bloc's 'property speculation tax'

CatarinaMartinsCloseUpPortugal’s Socialist government knows full well that messing around with property taxes in order to penalise entrepreneurs, is a vote loser. 

The Socialist Party leader today quashed any chance that the Left Bloc’s special income tax rate will see the light of day.

Carlos César, said that Catarina Martins' proposal to curb real estate speculation, "has never been presented" as part of the 2019 State Budget talks and that the current Capital Gains Tax provisions are quite enough.

Carlos César guarantees that "this measure will not have the approval of the PS Parliamentary Group" and therefore, "will not be a matter that can proceed."

On Tuesday, the Left Bloc leader, Catarina Martins, (pictured) said her party's proposal to apply a special income tax rate to curb real estate speculators was "quite sensible," and said that ongoing talks with the Finance Ministry had been going well.

On Tuesday, the PM said he did not understand the Left Bloc proposal, as "capital gains tax already exists."

Asked later about the prime minister’s statement, Catarina Martins played it down and said it was possible that António Costa has not yet spoken with the Minister of Finance on the matter.

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See, 'Left Bloc pushing for special tax to halt 'real estate speculation'' 10 September 2018

 

Comments  

+1 #2 Darcy 2018-09-17 10:11
The Socialist party that is in power in Portugal should start to work for the employment rights of its citizens.
Worker's should be treated with respect and they
(1) all should be paid by the hour and not by the month.
(2) All workers should be given a pay slip explaining, the amount of hours they have to work and their hourly rate. This should be no more than 40 hours per week and after this the will receive over time pay or time off in return for extra hours worked.
(3) worker's should be treated with respect by their employer and by customers, regardless of whether they are a doctor or a shop assistant. As this lack of respect is a barrier to people taking up employment in the cafes and restaurants in the country.
The Socialist Party in Portugal have an opportunity to change the workplace for the citizens of this country that will make way for thousands of graduates and tradespersons to return to Portugal, but this will never happen if nothing changes to enhance the rights of the workforce.
So SOCIALIST PARTY take note, that you now have got the mandate from the people to to improve their lives, DON'T WASTE IT as your future is in their hands.
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+3 #1 R Jones 2018-09-13 07:35
Not an issue that concerns most of us as Northern EU citizens who have sold and left Portugal (or sold a 2nd home) will be well aware of the lengths Portuguese Financas go to to stop any speculation / capital gains leaving this country. A complicated formula evaluates a range of measures, not just what was fully declared in a licensed build but also any currency fluctuation. Financas then tracking the speculator back in the more developed country through their Land Registry to make sure any gain went into a 1st home within 18 months.
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