Spanish investors 'could be due a refund'

Article Date : Friday, April 13, 2007

British investors who have paid money towards capital gains tax for a property that they sold in Spain could be in a position to receive a refund should the move collapse, one firm has said.

Property vendor Valuvillas has welcomed news that the Spanish government has significantly reduced the levels of capital gains on property sales conducted by foreign investors.

Until now, non-resident foreigners selling property have been subject to a 35 per cent capital gains tax on their gain when they sell property in Spain. At the same time, Spanish residents had to contend with a more lenient 15 per cent capital gains tax.

Since the start of 2007, the figure has been reduced to 18 per cent, while the rate for residents has moved up from 15 per cent to 18 per cent.

This has led to Valuvillas posing the question: "Are you due a refund?"

Under current conditions, the amount is refundable if the sale falls through, but sellers will still pay the full 18 per cent should the deal is sealed successfully.

View Property News by Country

Australia	Brazil	Bulgaria	Cambodia	Canada
Cape Verde	China	Croatia	Cyprus	Dominica
Dubai	Egypt	England	Estonia	France
Greece	Hungary	India	Iraq	Ireland
Italy	Jamaica	Japan	Kazakhstan	Kenya
Malaysia	Montenegro	Morocco	New Zealand	Nicaragua
Panama	Poland	Portugal	Romania	Russia
Saint Vincent and the Grenadines	South Africa	Spain	Sweden	Thailand
Turkey	United Arab Emirates	United Kingdom	USA

Spanish investors 'could be due a refund'

Related Articles

View Property News by Country

Let Us find Property in Spain for You

Subscribe to This Feed

View News by Channel

Property News Search

News Archives

Media/Press Section

See Your News Here