Capital Loss/Gain: what to do in both cases.
PLUSVALÍA MUNICIPAL. Local Tax. How it can affect you??
The “Impuesto Sobre el Incremento del Valor de los Terrenos de Naturaleza Urbana (IIVTNU) o Plusvalía Municipal”, is a local tax administered by Town Halls in Spain which aims to measure and tax the increase in value on an urban property when it passes into new ownership, either through sale of purchase or by any other means.
In essence it is similar to a Capital Gain tax, taxing the “profit” made by homeowners when they sell a property for a higher price than they paid for it.
Need a NIF EU citizens who want to work in Spain
To the citizens of the European Union and citizens of countries integrated into the European Economic Area (Iceland, Liechtenstein and Norway in addition to Swiss citizens) the same rules of identification apply to foreigners, without prejudice to They will obtain a NIE in the «Community scheme card» when they are registered in the Central Registry of foreigners…
WIPE YOUR MORTGAGE OUT: DACIÓN EN PAGO
Do you want to leave Spain but you cannot sell your property because of the current market price? Are you unable to cancel your mortgage? Are you thinking about giving the keys back to the bank? We give you the keys in this blog. The collapse of property prices has...
TO BE RESIDENT IN SPAIN FOR NATURAL PERSON
To remain in Spain more than 183 it is not probe enough for the Tax Office.
It is necessary at least to be registered in the Town Hall where yo live and get the «Padron». Then you have got 3 months to apply for the residency.
EARNINGS FROM REAL STATE
According to Spanish law, income derived directly or indirectly from property assets in Spanish territory or rights relating to them is considered to be obtained in Spanish territory
Tax Rebate when you sale your Property
When you sale your Property (or legally changed ownership thanks to a “Dacion en Pago” operation) 3% of the value is withheld because of the condition of being a non-resident according to the art.RD 5/2004 art.25 and art.14 RD 1775/2004, this withhold is a payment in advance of the Capital Gains.
Conveyancing in Spain. Do you dream of paradise?
Conveyancing in Alicante and Murcia
Salud Andreo - Solicitor
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