Spain Explained

A guide for foreigners on every aspect of safe property ownership in Spain

Posts filtered by capital gains tax in Spain

Do you pay tax when you sell your house in Spain?

Do you pay tax when you sell your house

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. In essence, CGT is a payment on the profit […]

Calculating capital gains tax in Spain when selling your property

Capital gains tax Spain

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 common capital gains are profits earned from the sale […]

New Spanish tax law for 2015

spanish-tax-law

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 cases the reduction in tax rates will be welcomed. […]

Changes to Spanish capital gains tax

spanish-capital-gains-tax

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 Spanish government has the ballot box in its sight […]

Proposals for capital gains tax in the UK

capital-gains-tax-in-the-UK

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 guaranteed source of investment, with prices rising annually and […]

Deductions from 3% retention in Spain

deductions-from-3-retention-in-spain

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 Spanish Tax Authority of retentions that are being returned. […]

Some benefits to being part of the EU?

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 the value (or not) that membership actually brings. Some […]

How countries spread the tax burden

tax-burden-spain

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 goods that we use. Road tax, council tax, tax […]