Young people may lose IMT exemption if they change jobs and workplace

The Tax and Customs Authority (AT) has clarified that the 'IMT Jovem' tax exemption for first-time homebuyers under 35 is lost if a beneficiary changes employers and moves to a location over 100km away. While the law allows for a move over 100km without losing the exemption if the home is subsequently rented out, the tax authority interprets this exception as applying only to employees transferred by the same employer they had when they purchased the property. Beneficiaries who change companies and relocate must pay the IMT and Stamp Duty taxes they were originally exempted from, even if they rent the property out.