The Portuguese Parliament approved the law on Wednesday 12 Juneexemption from property transfer tax (IMT) e from stamp duty (Imposto do Selo) for i young people up to 35 years old That they buy their first home. This is a legislative authorization from the Government of Montenegro which constitutes the first political victory of the Democratic Alliance in the Assembly of the Portuguese Republic.
In the debate that preceded the approval, the Minister of Youth and Modernisation, Margarida Balseiro Lopes, stated that the difficulty of young people in buying a house “is a factor that pushes them to leave the country” and underlined “the need to stop this bleeding”. Margarida Balseiro Lopes then recalled that this type of exemptions already exist in several municipalities of different political colours, which demonstrates “that this measure does not have a partisan character”. Examples are the municipalities of Mafra (PSD), Peñafiel (PSD), Vila Real (PS) and Matosinhos (PS).
The measure proposed by the Government, and which the Executive intends to bring into force in August, provides for aexemption from real estate transfer tax and stamp duty for thepurchase of a house whose value does not exceed 316,772 euros. The provision also provides for apartial exemption for homes with a value between 316,772 and 633,453 euros (with a rate of 8% on this part).
