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Letting Property in Portugal: Getting it right under the new legislation
One of the subjects which still causes some concern and raises questions is that of what to do about rental income realised from short term lets to holidaymakers, or ‘Local Lodging’ income.
In order to help Members who may still have trouble understanding exactly what their obligations are, or those who may be thinking about letting out their property in the future, we have agreed with Eurofinseco SA to hold two seminars on this subject in June.
The first will take place on Wednesday 8th June at Boavista Golf Club, Lagos and the second on Thursday 9th June at the Albacora Hotel in Tavira.
Registration will open at 10.30 and the seminars will begin at 11 am.
The content of the seminars will be:
Introduction: Review of recent legislation
Part 1: Long-term Rentals to Residents
•Rental contracts
•Taxation of income
•Compliance obligations
Part 2: Short-term Lets to Holidaymakers
•Setting up as a business
•Keeping tax to just 5%
•Compliance requirements
Part 3: Local Lodging Licensing
•What’s required
•How to proceed
Part 4: Questions & Answers
So if you are renting property or thinking of doing so and want to be sure that you have answers to your questions, including such things as VAT and Social Security requirements, contact the afpop office to reserve your place at the seminar closest to you.
Cost of the seminar is 15 euros for afpop Members, 5 euros for second
Member and 35 euros for non-Members.
Source http://algarvedailynews.com/index.php/Press/letting-property-in-portugal-getting-it-right-under-the-new-legislation.html
Category : Blog
The Algarve Freight Centre – Weekly service Uk to Algarve to UK – visit www.AlgarveFreight.com
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For full details see:-
http://www.algarveresident.com/0-41920/algarve/metered-parking-introduced-to-boost-town-funds
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Summer Wine Tasting at Club Nau, Praia Grande, Ferragudo – for details see http://www.mydestination.com/algarve/events/73128830/summer-wine-tasting-at-club-nau-9-june-2011
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Algarve Bike Rides 30th March, click below for details:-
http://algarvedailynews.com/index.php/Press/bike-rides.html
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The International Algarve Fair 2011 , Lagoa, 4th & 5th June 2011
http://www.algarvefair.com/index.htm
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Vilamoura’s Marina was recently voted ‘Portugal’s Best Marina’ at the Portugal Trade Awards 2011, on 23 February.
During last month’s event the best companies, institutions and professionals working in 15 different tourism-related categories in Portugal were distinguished.
The award ceremony took place during a gala dinner held in Lisbon’s FIL Pavilion.
Vilamoura’s Marina took the title of ‘Best Marina in Portugal’, acknowledgment of the ongoing investment that has been made since the marina was inaugurated in 1972.
Over the past five years great efforts have been made to improve the marina’s infrastructures and train its workers, with the aim of offering a ‘service of excellence’.
The Marina boasts an annual occupation rate of 80 percent and a client satisfaction rate of 95 percent. It also boasts a five-anchor rating as well as a blue-flag award, indicating the quality of its environmental components.
Source http://www.theportugalnews.com/
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For full details, see http://www.algarveresident.com/story.asp?XID=40553
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Portimão’s main church is due to open on 5 March, following the completion of extensive renovation work inside, although exterior renovations are due to continue until Easter, according to the local priest.
The interior of the Gothic church, which dates back to the 15th Century and was rebuilt following the 1755 earthquake, was restored after structural problems were found.
“It was a miracle that nothing serious happened,” priest Mário de Sousa told Lusa News Agency, adding that the “beams and upper structure were in a severe state of dilapidation.”
Representing an investment of more than €600,000, a large portion will be paid for through donations, so far amounting to €137,000. Portimão Town Hall is responsible for the cost of replacing the roof and electricity, which is estimated at €225,000.
Priest Mário de Sousa said that the renovations “bring a mix of happiness and worry, as the work involves a lot of money, for those who live only from donations.”
The initial cost for repairing the roof and interior of the church was lower; however, the amount increased as other necessary and complex work was detected.
“It was found that the front of the building was coming away, the structures of the altars were infected with insects and the electricity cables had deteriorated,” said the priest.
“Access to the crypt was also unblocked, with the Santíssimo chapel having been found as well as the burial of Mr Maravilhas (the man who rebuilt the church after the earthquake). In the future, the crypt, which includes the whole area of the chapel, will be renovated to receive the remains of the priests that are in the cemetery,” he added.
Mário de Sousa considers that “with the help of the population and some local businesses, the money needed to pay for the work will be raised.”
Currently, the inside of the church will be complete for the re-opening, but work on the outside will continue until April, with the company that built the Retail Park in Portimão “having offered” to carry out the painting and restoration of the building’s exterior.
Source: http://www.theportugalnews.com/
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FREE Wi-Fi Internet access is now available 24 hours a day in the Largo da Republica in Silves.
Details see:- http://www.algarveresident.com/story.asp?XID=40000
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The Algarve-based Parkalgar Honda team were due to hit the race track in Portimão for the first tests of the year between 26 and 28 January, prior to their first competition next month.
http://www.theportugalnews.com/cgi-bin/article.pl?id=1097-22
Miguel Praia, Sam Lowes and James Ellison were due to begin preparations for the start of the 2011 season and their first races on 27 February in Australia.
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