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The Presidency of the Republic publishes the following communiqué:

"Notwithstanding the campaign for the presidential elections having ended on 23 January, statements concerning that Professor Aníbal Cavaco Silva had not paid the Municipal Conveyance Tax on the purchase of his holiday family home in Albufeira, through an exchange with his previous home in Montechoro, which took place in 1998, eight years before he took office for the first time as President of the Republic, continue being disseminated.

Such statements are offensive and false.

Professor Cavaco Silva paid the Conveyance tax at the rate of 10%, amounting to € 8,133.44 (eight thousand one hundred and thirty euros and forty four cents) as the result of the difference between the patrimonial values of the goods exchanged, as established by the Fiscal Authorities, and as was his duty in the terms of the legislation ruling the Municipal Conveyance Tax and the Inheritance and Gifts Tax.

Anyway, the public deed of exchange, dated July 1998, expressly contains – since it could not otherwise have been enacted – reference to the prior request placed before the Fiscal Authority to establish the value of the Municipal Conveyance Tax, which at the time was still in force.

It was a perfectly legitimate and transparent transaction, similar to thousands of others, whether considered under Civil Law or under Tax Law, and as anyway confirmed by all the juridical experts consulted. The fact that the parties had correctly considered that the values of the exchanged properties were very approximate, does not imply the non payment of Conveyance Tax, since this is always a result of the patrimonial value of the exchanged goods, subject to assessment by the Tax Authority, as in fact happened. Thus notified, Professor Cavaco Silva readily effected the payment of €8,133.44.

With the tranquillity following the noise of the electoral fight, the President of the Republic cannot but categorically repudiate the statements made, with the objectives that are evident to all, and definitely replace the factual truth before the Portuguese.

Lisbon, Palace of Belém, 1 February 2011