IMT Exemption Approved for Young People Buying Their First Home

In the plenary session, the Government’s proposal to exempt young people up to 35 years old from paying IMT and Stamp Duty on the purchase of their first home was approved. The vote, held simultaneously at the general, specialty, and final global stages, received favorable votes from PSD, Chega, IL, CDS-PP, and PAN, votes against from PCP and Livre, and abstentions from BE and PS.

The measure applies to homes valued up to 316,772 euros and provides a partial exemption for properties between 316,772 and 633,453 euros, with an 8% tax on the amount exceeding this threshold. The executive intends for the measure to come into effect in April.

Source: https://jornaleconomico.sapo.pt