VAT on House Purchase

2 Replies
Peter Miles

1198935965

Message

I have been trying to assess the total cost of house purchase in the Algarve, based on published info, for the following costs of a property valued at E400 K :- (Excluding Removal costs & actual House value) i.e. Legal/IMT/Stamp Duty/Notary fees/IMI etc and have read that VAT may be due on some aspects of the transaction, can anyone enlighten me on this point. Is it due on Lawyers fees, or even on the house value? The total costs so far equate to about 10-11% of the house value does this sound about right ? peter milesPeter

Replies

Will-742583 1198936261

You may find some useful info on this AI page http://algarve.angloinfo.com/countries/portugal/housebuy.asp

Peter Miles 1199097503

Thanks Will, I derived most of my calculations from this page, but need to know if VAT is due on lawyers, and Notary fees, or on any other costs?


Also on a E400K house value, the oncosts amounted to about 10-11% i.e


around E40K to E45K which seems a lot higher than in UK. Does this sound about right ?


Regards


peter miles



Peter

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