At a hearing of the Budget, Finance and Public Administration Committee, Joaquim Miranda Sarmento highlighted that the Government is ‘focusing on attracting human capital’ with measures such as the Youth Income Tax, the IMT and Stamp Duty exemption and the public guarantee for the purchase of a first home.
With regard to the IMT and Stamp Duty exemption, more than 70,000 young people have already benefited from the measure, the minister said.
As for the public guarantee, around 23,000 young people have benefited, he added.
The exemption from IMT Jovem and Stamp Duty on the purchase of permanent homes by young people up to the age of 35 was a tax incentive created in 2024 by Luís Montenegro’s first government.
The public guarantee for mortgage loans to young people up to the age of 35 (inclusive) applies to contracts signed until the end of 2026 and allows the State to guarantee, as guarantor, up to 15% of the transaction value.
In practice, and combining this guarantee with the rules for granting mortgage loans, the measure allows young people to obtain 100% of the appraised value of the home, instead of the 90% limit that applies to most customers.