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- Liva & Laia : 15th November
Just announced - a second hike in the Capital Gains Tax (CGT) levied on non-residents by the Spanish Tax Office in as many years.
As from January the 1st 2012 Capital Gains Tax (CGT) for non-resident property owners in Spain will stand at 21% across the board. This follows a previous rise in 2010 from 18% to 19%.
In 2007 the European Union put pressure on Spain to lower the then CGT rate of 35% for non residents (15% for residents) to 18% - deeming it to be an unfair penalty on non-residents. A rise of 1% in 2010 passed relatively unnoticed but shows a worrying trend towards accelerating tax increases to boost the dwindling economy.
Spanish Residents will also feel the sting with figures rising to 21% up to 6000 Euros (Eu), 25% between 6001 Eu and 24000 Eu and 27% on higher figures.
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- 4 Reasons to move the ownership of your Spanish property into a UK Limited Company before the 31st December 2011
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- Spain Increases IHT in Valencia & Murcia
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- Own a Property in Spain ? Then you need to read the following
- Spanish IHT seminar proves a success
- Don't let your Dream Home get swept away by Spanish IHT
- Wincham extend Spain IHT service to Benelux clients
- Increase in Transfer Tax on Resale Property Purchases
- Title Deeds Insurance now included for ALL Wincham clients
- Spanish Wills will not protect you from Spanish IHT
- Spanish Taxes on the increase
- UK HMRC clamp down on Non-Resident owners of Spanish property
- Reintroduction of Wealth Tax
- VAT Reduced to 4% on Purchase of New Build Properties
- How to protect your cash in a Spanish bank on death!
- Wincham: shortlisted for an AIPP Award 2011
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- Spanish Inheritance Tax enquiries keep on coming
- Spanish Inheritance Tax - A response to recent articles...
- Do Not Wait Four Years Before You Probate in Spain !