The Porto City Hall will propose a moratorium on the payment of the Municipal Tourist Tax (TMT) owed to tourist resorts and local accommodation in difficulties due to the pandemic.

The proposal allows for the payment of the debt in a phased manner whenever companies are able to prove economic difficulties caused by Covid-19. The exceptional scheme will be proposed at the meeting of the municipal executive that will take place next Monday.

The moratorium to be approved will cover the TMT values delivered to the collecting entities, plus default interest and other penalties that may be applied, from the moment the TMT Regulation comes into force until June 30, 2020.

The executive's proposal determines the payment of debts up to 250 euros in one instalment, which can go up to 16 instalments for debts over 30 thousand euros. The instalments will be monthly and their payment may not exceed October 31, 2021. Failure to pay any instalment will result in the following, ensuring the execution of the remaining debt.