today!
By the end of today (15/12/2021), the statement allows landlords to remain in the system that protects them from paying more Municipal Property Tax (IMI) than they get in rents must be filed.
The issue at hand is the filing of the income participation, whose term began on November 1, which limits IMI, preventing the amount of tax from exceeding that of rents paid by the tenant during the year.
The regime that contemplates this brake was created in 2012, following the process of general evaluation of real estate, which led to the updating of the asset value (VPT) of more than 4 million urban properties.
Under this regime, provided for in the IMI Code, "the VPT of buildings with old rents, for the purposes exclusively of IMI, may not exceed the amount resulting from the capitalization of annual income by the application of factor 15".
In practice this means that instead of calculating IMI being done on the basis of the actual VPT of the property, it is calculated on the basis of a kind of 'virtual' VPT whose value is calculated by multiplying by 15 the annual value of the rents.
Thus, in a house with a VPT of 50,000€, but with a monthly income of 50€ (600€ per year), for example, IMI will be calculated on 9,000€ (600€ multiplied by 15) and not about 50,000€.
This scheme covers housing leases concluded before 1990 and non-residential contracts concluded before 1995 and which have not yet been definitively moved to the New Urban Lease Regime (NRAU).
For IMI 2020 (paid in 2021), the deadline for the delivery of income participation was changed by order of the Secretary of State for Tax Affairs, having elapsed from the 1st of January to the 15th of February.
This time, however, and according to the president of the National Association of Owners (ANP), António Frias Marques, there was no indication of changing the deadline, which led the association to take measures to warn landlords about the limit of December 15th.
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