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18 The Portugal News •  23 Mar 2019                             Business


      Lisbon ‘should consolidate Atlantic’, become



      global hub - TAP chairman


                                                       The chairman of the board of TAP Air Portugal, Miguel Frasquilho, has said that if

                                                       Lisbon wants to be a global hub it has to “consolidate the Atlantic.”
                                                             rasquilho was      “serious doubts” that Brexit  are now back to normal, so  weekly flights between July
                                                             speaking at the end  would happen, which he  our Saturday flight will take  and September 2018”.
                                                             of a lunch         said was “great” for the  place as scheduled”, a  The company “is carefully
                                                       Forganised by the        European and            company source told Lusa  analysing the internal
                                                       International Club of    international economy.  News Agency.            situation in Venezuela”, the
                                                       Portugal in Lisbon.      He said Brexit would have  Last Tuesday the     source stressed.
                                                       He also regretted China’s  an “uncontrolled” impact  Portuguese airline  Currently, TAP has two
                                                       HNA Group selling its stake  “everywhere” and that it  cancelled its flights to  weekly flights to Caracas,
                                                       in Portugal’s flag carrier  would also impact    Venezuela due to unsafe  on Tuesdays and
                                                       TAP saying it was the    Portugal’s economy.     conditions at Caracas   Saturdays.
                                                       airline’s “door to the East”  Elsewhere, TAP confirmed  airport.         Many airlines have
                                                       and that Asia “could not be  it has started flying to  The company source  stopped flying to
                                                       left behind.”            Venezuela again as safety  explained “it has    Venezuela while others
                                                       Meanwhile, in related    conditions have been    registered lower booking  have cancelled flights on
                                                       news, Miguel Frasquilho,  guaranteed.            levels and for that reason  specific days over security
                                                       has said that he had     “Caracas airport operations  TAP reduced the number of  concerns.                 TPN/Lusa

                                                       Five hotels in Spain’s Casual Hoteles’ growth pipeline
                                                         Spanish hotel chain Casual     company will invest €18 million in the  hotel will have 28 spacious rooms
                                                       Hoteles is planning to invest around  remaining sites.           and will offer double rooms, twins,
                                                       €25 million in five hotels in Portugal,  The company aims to invoice  suites and also family rooms.
                                                       the company’s chief executive, Juan  around €7.5 million in Portugal per  The chain plans to open another
                                                       Carlos Sánjuan, has revealed.    year, Carlos Sánjuan added.     site in Lisbon, in a little over a year.
                                                         The company plans to open hotels  In a note sent to media, Casual  Another hotel will be opened in Porto
                                                       in Lisbon and also in the northern city  Hoteles announced it would go ahead  in April, and two more are scheduled
                                                       of Porto by 2020, and to hire 12  with launching the hotel Casual Belle  for 2020.
                                                       employees for each hotel.        Époque Lisboa in March, its “first  The plan is part of the group’s
                                                         Investment in the first hotel, which  international hotel” located in  internationalisation plan. By 2023,
                                                       will open in Lisbon later this month, is  downtown Lisbon in a historic and  the chain aims to have 30 hotels and
                                                       expected to amount to €7.8 million,  completely renovated building.  a turnover of around €50 million, the
      TAP chairman Miguel Frasquilho. (Photo: Lusa/ Luís Forra)  according to Carlos Sánjuan. The  The Casual Belle Époque Lisboa  group said.                                        TPN/Lusa
      TAP chairman Miguel Frasquilho. (Photo: Lusa/ Luís Forra)
      TAP chairman Miguel Frasquilho. (Photo: Lusa/ Luís Forra)
      TAP chairman Miguel Frasquilho. (Photo: Lusa/ Luís Forra)
      TAP chairman Miguel Frasquilho. (Photo: Lusa/ Luís Forra)
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        TRADITIONAL RENTAL vs TOURISTIC RENTAL
        Legal requirements and tax implications
          In a tax point a view, the  have to be celebrated in writing,  issued. The landlord has to pay  accommodation is done at the  without previous registration at
        difference between short    in order to be valid. The rental  10% of the monthly rent under  competent municipalities, and  the competent Town Hall, in
                                                                                                               prior
                                                                                                               prior
                                                                                                               prior
        accommodation (AL) and      contracts have to identify the  the contract, of the stamp duty  they are subject to priorprior  case of individuals, or from
                                                                                              communication
                                                                                              communication
                                                                                              communication,  through the
                                                                                              communication
        rental is significant. While the  parties involved, and the  tax.                     communication                €25.000 to €35.000, in case of
        touristic rental, for short  property to be rented. The    The lack of communication in  website                   companies or similar entities.
        periods, known as AL, just  contract has to be           time means that the Tax      bde.portaldocidadao.pt, the
        35% of the income is taxable,  communicated to the Tax   Authority can issue a fine, which  survey costs, as well as
        subject to incidence of VAT,  Authority, through the     can be assed from €100 to    documentation to be presented
        the long-term rental, known  government website e-       2.500€. On the other hand,   are set by each municipality.
        as traditional rental, 100% of  arrendamento, until the end of  when the landlord fails his duty  And the property’s owner
        the income is considered, for  the following month of the  to issue a rent receipt, the law  commits to comply with a
        taxation purposes.          beginning of the lease. Any  predicts a fine, whose value can  certain number of requirements
                                    alterations to the initial contract  be assed from €150 to €3.750.  when submitting the
              Long-Term
          1. 1.  Long-Term  Rental  should be produced in writing                             registration.
                          Rental
                          Rental
                          Rental
              Long-Term
                          Rental
          1.
          1. 1.
              Long-Term
              Long-Term
                                                                       Tourist Lease or
        (traditional)               and should be reported through  2. 2.  Tourist Lease or     It is predicted a fine
        (traditional)
                                                                       Tourist Lease or
                                                                       Tourist Lease or
                                                                       Tourist Lease or
                                                                   2.
        (traditional)
        (traditional)
                                                                   2. 2.
        (traditional)
                                                                 Local Accommodation - AL
                                    the referred website.        Local Accommodation - AL     amounting from €2.500 to        See the full article on our
                                                                 Local Accommodation - AL
                                                                 Local Accommodation - AL
                                                                 Local Accommodation - AL
                                                                                                                              See the full article on our
                                                                                                                              See the full article on our
                                                                                                                              See the full article on our
                                                                                                                              See the full article on our
          By law any rental contracts,  When the rental contract is                           3.740,98€, for situations of local  website-publications or
                                                                                                                               website-publications or
                                                                                                                               website-publications or
                                                                                                                               website-publications or
                                                                                                                               website-publications or
        regardless of their duration,  communicated, a tax bill is  The register of the local  accommodation working           use the QR code above.
                                                                                                                               use the QR code above.
                                                                                                                               use the QR code above.
                                                                                                                               use the QR code above.
                                                                                                                               use the QR code above.
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