Additional IMI

[Geoff Simcox]

I have a villa which I, with each of my wife and 3 adult children, have owned via a Portuguese Company since 2002. I (the Company) employs a local manager and an accountant.

I was shocked to be told last week that the the Company owes E3290 or so in unpaid AIMI and fines accruing over 2 years - and that a Company asset seizure order has been made. I recall reading about IMI a while ago but I was told it only applied to off shore Companies.

My local manager and accountant do not seem to feel they are at fault for not advising me, as appropriate - although I now find tout that there is "via CTT" portal through which notifications are sent - but can only be accessed via a code, which I do not have.

Clearly, pending further investigation, I am paying the arrears - but if anyone has or has had a similar problem, and can offer advice or helpful comment, I would be most grateful.

Geoff Simcox

[pato]

The whole country worries the life out of me.

[carolyn]

We have paid the AIMI for the last two years as our villa is 'offshore', but understand that you are also liable if the value is over a figure that I believe is €600,000
The invoice for this arrives like the invoices for the normal IMI through our accountants, who is our fiscal rep, so if you have been receiving your usual IMI bills wonder why the AIMI hasn't come through the same route.

In our opinion, this is another case of Portugal taxing those who already pay tax rather than chasing those who stay 'under the radar'!

[Geoff Simcox]

Thank you for your helpful information. Did you investigate the do's and don'ts of bringing the property onshore. Also, did your accountants advise you in advance that you would be affected. Who are they? Do they give you a satisfactory service and at what fee level.

Regards,

Geoff

[carolyn]

We did look at bringing onshore but cost was prohibitive.
We use Sovereign in Lagoa who we have always found very good.
You would have to speak to them re charges as it very much depends on what exactly you want them to do for you.

[Geoff Simcox]

Thanks Carolyn.