PROCOS Portugal: consultancy on asset valuation
Published on 20.02.2014
Following the request from a 5 star hotel owner, PROCOS Portugal joined a Commission for revaluation of the hotel building’s tax value, as the owner's expert representative.
As a result of our work, the final asset value was reduced to 2/3 of the value previously assigned, and the impact of this adjustment resulted in annual savings on property taxes exceeding €60.000,00.
The areas of the hotel were all re-measured and the indicators and weightings applied were thoroughly reviewed and revised in accordance with the criteria set out in the property tax code and the assessment manual from the Portuguese Ministry of Finance.
You can read more about PROCOS Portugal's local activities at www.portugal.procosgroup.com.