Finanças seized 300,000 bank accounts and properties last year

Paul Rees 24 March 2019

financas Portugal’s tax authority seized 300,000 bank accounts and properties last year, a drop of 17% and the lowest number since 2014.

Despite the overall drop, real estate seizures increased between 2017 and 2018, rising from 16,166 to 18,008, including industrial and commercial buildings, lots of construction land, other land and houses.

In May 2016, new legislation permitted the seizure of primary dwellings but that the tax office may not auction off the property, which it confirmed had been the case.

The number of seized vehicles reached 27,490, a rise of more than 5,000 compared to 2017.

The seizures usually are of money, deposited securities or financial investments, income, salaries and pensions, even if the taxpayer has property to offer.

The overwhelming majority of taxpayers end up paying the debt before the attachment takes place. This explains why in 2017, a total of 2.7 million seizures were advised but only 367,801 actually were made.

Comments

0 #6 Boris H 2019-04-01 15:28

Grotty yoti.
I have purchased my home here in Portugal, the price was agreed with the vendor and the solicitor did the paperwork.
It is always a good idea to have someone that speaks the language to assist with this process but not necessary as al graduates in Portugal have a very good command of the English language.

0 #5 Grotty Yotty 2019-03-31 10:16

Among other countries, I have lived in Greece and both Iberian ones and have observed such tactics - and more, viz the illegal planning 'permission' and subsequent demolition. All friends, whom I have advised (having been in the legal business in 3 countries) NOT to buy, but to rent, have ignored this, usually wth resultant tears. Have also been caught by a huge fine for not finding a receipt, but then was newly-arrived and had not LEARNED the way of things, which is encumbent on all ex-pats.
It's not 'Portugal bashing', it's factual, Darcy (sniping, not snipping).
Our esteemed Ed has often brought the perils of having a local bank account to our attention. Caveat emptor! For this reason, it's best to have a 'foreign' bank account and use a Euro-card/transfer, if applicable. If one's income arises abroad, it stays there. Any currency exchange rate can be kept to a minimum.
Having averred this, living on the Algarve, with the Algarveans, is grand and beaten by nowhere in Europe (cuisines aside). :-)

P.S. Have also had to 'pick up' different lingos and found that speaking the local one, however badly, draws back the curtains on local life and friendship.

-1 #4 Darcy 2019-03-29 09:52

Charly,
Sounds like she is up to her usual snipping at Portugal mode.

-1 #3 Chez 2019-03-26 15:01

Quoting Aristedes:

This is no different to Greece where the Government is bedevilled by the "Can pay but won't pay Brigade" that the IMF has urged be attended to. So repeatedly switching their main residence or transferring the property to family and friends - in full view of taxmen who are intently looking the other way - or on strike!

or on a backhander!

0 #2 Aristedes 2019-03-25 09:13

This is no different to Greece where the Government is bedevilled by the "Can pay but won't pay Brigade" that the IMF has urged be attended to. So repeatedly switching their main residence or transferring the property to family and friends - in full view of taxmen who are intently looking the other way - or on strike!

+1 #1 charly 2019-03-25 08:18

If Portugal is in need of money the taxmen simply "steal" it from the people. It's as simple as that. And by the way: once stolen there is no chance to get it back even if it is fully and clearly prooven that finanças was completely wrong ! That's one of the reasons several residents left the country.
Another "swindle" is that of the seizure of luxurious cars: one can think this is a very well organised and premeditated "business" by finanças...

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