Selling my Tenerife Property - Capital Gains Tax?

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  • Selling my Tenerife Property - Capital Gains Tax?


Answer #1 | 06/03 2007 04:57
Get a dodgy solicitor they're very common. He will help you dodge this tax. It's a national pastime in Spain (taxdodging). You may have to drive home with the cash though!
Answer #2 | 06/03 2007 05:09
A friend is trying to sell their property in Costa del sol and its not just capital gains tax its something to do with community tax for the years they have owned it. Purchased 25 years ago for 7thousand valued now 90thousand if sell the get around 20thousand after paying Spanish council tax, so get professional help.
Answer #3 | 06/03 2007 05:49
Hi John, I work in Tenerife for an Estate Agent. When you come to sell your apartment you will be liable for Capital Gains Tax at 18% of your profit. As a non-resident it is usual for the buyer to retain 3% of the sales price to pay these taxes. It is extremely unkind to try and dodge this tax, as I am sure you would not want someone to do this to you. I would advise anyone who is buying a property from a non-resident to retain the 3% and ensure the taxes are paid, otherwise they will be levied against the property and therefore the new owner. Be honest pay your taxes. Chris sorry could not answer again, hope you see this. If you click on my picture and then go to my public profile you will be able to send me an e mail. I dont think it is allowed for me to put the company name on here or a phone number.
Answer #4 | 06/03 2007 07:25
Hi hookiehelp.. if you happen to be in the south of Tenerife and you´re willing to give me advice caus im in the same situation.. tell me how to contact you.. I think you can help.. Chris (living in Adeje)..

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