Last updated on June 26th, 2020 at 05:07 pm. When people are selling their property in Spain, they wonder, “do you pay tax when you sell your house?” Generally, this type of taxation falls under capital gains tax (CGT), which can be complex. Capital gains tax applies in most countries when you sell a property. […]

Last updated on June 3rd, 2020 at 07:21 pm. Capital gains tax is applied in most countries and Spain is no exception. Essentially, capital gains tax is a levy imposed on the sale of a non-inventory asset, that is, a capital asset that’s not likely to be liquidated into cash within a year. The most […]

Last updated on May 9th, 2020 at 03:58 pm. The new tax legislation in Spain has been debated for a while. Originally proposed in June 2014 it has now been passed and will come into force from the income year 2015. The new law brings with it implications for both residents and non-residents. In most […]

Last updated on June 3rd, 2020 at 07:25 pm. It’s perhaps a symptom of government austerity that taxation is a particular target for change. It is one of the best means of increasing revenue but must also be handled carefully if your electorate are not to be upset as an election year approaches. As the […]

Last updated on June 3rd, 2020 at 07:26 pm. It might come as a surprise to know that in the UK, until now, capital gains tax (CGT) wasn’t payable by non-residents when selling property there. This is perhaps one reason why house prices in London have risen to such exorbitant levels. They have become a […]

Last updated on March 17th, 2020 at 05:40 pm. The 3% retention is the amount that is kept back by the Spanish Tax Authority after the sale of a property by a non-resident. It is used to pay the Spanish Capital Gains Tax and ensures that funds remain available. Ábaco sometimes receive notifications from the […]

Last updated on September 13th, 2019 at 09:10 am. There has always been debate about just how beneficial it is for a country to be part of the European Community. For some countries it has been more controversial than others. There is continuing stress on relationships due to countries’ individual economies and perceptions held about […]

Last updated on March 19th, 2020 at 10:01 am. Where should the majority of tax be collected from? Countries have, by and large, come to the same kinds of conclusions. We expect to make some contribution to the state purse from our earnings and income. We are also used to having VAT on services and […]