SALE OF INHERITED REAL STATE

A new judgment of the Supreme Administrative Court (SAC) concerning capital gains under Personal Income Tax (PIT), in the context of succession, was recently published.
In the context of an appeal lodged by the Portuguese Tax Authorities (TA) against an arbitral decision favorable to the taxpayer, which concluded that heirs who sell a property belonging to an undivided estate are not subject to PIT on the resulting capital gains, the SAC upheld that decision in favor of the taxpayer.