I have a property in Portugal and want to sell in a such a fashion sot that it attracts minimum CGT. I thought that if the property was transferred before the end of the year, the tax authorities would allow it to be done at cost plus inflation. This means that only SISA would be paid, and it would not attract Portuguese CGT. Can you advise on it?
hanks,
Kevin

The problem seems to be that, although the Portuguese authorities are not charging CGT on transfers before 1st Jan 2004, the Inland Revenue can still charge CGT between the transfer figure and the market value.

Not only that, but the Inland Revenue would get the full 40% CGT - a handful of villas in the Algarve would be a nice little earner.

As of 1st Jan 2004, any revaluations are by the Portuguese tax authority. If they are conservative (which seems to be the considered opinion), then a more reasonable CGT might be applied - with 25% going to Portugal and 15% going to the Inland Revenue.
Thanks,
qabriel