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May 17

Written by: International Marbella
Thursday, May 17, 2012  RssIcon

How fantastic for our potential buyers – if they buy a property between now and the 31st of December 2012 they will in future when selling the property whether that is next year, in 5 years or longer only have to pay half of the Capital Gain Tax due.

International Marbella’s tax consultants, Arcos & Lamers Asociados has the pleasure to inform you that the Spanish Government has approved on Friday 11th May 2012 several measures to stimulate the Spanish property market, including a tax a exemption of 50 per cent on Spanish Capital Gain Tax that could appear out of the potential sale of properties to be acquired in Spain during the rest of the year 2012.

“There is going to be implemented an exemption of 50 per cent of revenues arising from the sale of real estate that are acquired from 11th May to 31st December, provided that there is no link between the parties,” said the Minister of Development, Ana Pastor, in a press conference after the Council of Ministers.

“The exemption, said the Minister, shall apply for the Capital Gain Tax for residents, Non Residents in Spain and Spanish Company Tax”.

This tax which is calculated on the gain achieved between purchase price and future selling price, can of course change in the future however 50 % is always better in our investors’ pockets rather than the Government’s.

The above mentioned Royal decree will be published at the corresponding Spanish official bulletin (Boletín Oficial del Estado) within the next couple of days.

Do not hesitate to contact us should you wish to obtain more information and we will put you in direct contact with the Tax advisers of the Spanish Law Firm Arcos & Lamers Asociados.

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