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IRS application promises landlords IRS discounts

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IRS application promises landlords IRS discounts

The tax authorities are developing an application that will guarantee discounts on the IRS to landlords.

In the finance portal you can report the beginning of the lease and whether or not it is renewable, but not the renewal periods. This is an important detail because it prevents landlords from benefiting from the IRS rebate on renewals over two years.

To address this shortcoming, the Tax Authority is preparing an application that will let you know the duration of renewals, the finance source told Lusa.

Landlords must notify the tax authorities of contracts entered into, renewed or in force this year. The deadline is February 15, “the year following the one to which the contract / renewal relates”.

There is still no deadline for launching the new application, just the guarantee that "instructions with procedures to be adopted by landlords" will be released as soon as they become available.

This tax relief is expected since the beginning of the year and is longer the longer the lease term. The goal is to give tenants more stability.

At stake is a two percentage point reduction in the two- to five-year contracts; five percentage points on contracts between five and 10 years; and 14 percentage points for contracts between 10 and 20 years. Renewals of the same duration have the same discount. Given bills, landlords can pay half of the standalone IRS tax, which is currently 28%.

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