Irish investors facing stricter Portuguese property taxes
Irish people who have invested in property in Portugal are reportedly facing a five-fold in increase in their property taxes following a decision by the Portuguese authorities to close a number of legal loopholes.
Reports this morning said one such loophole allowed foreigners to register their Portuguese properties through offshore companies to avoid property taxes and capital gains taxes.
The reports claimed elderly people who invested their pensions in Portuguese property would be hardest hit by the closure of such loopholes.
