- February 11, 2017 at 2:38 pm #195176
Normally I understand there is a 3 per cent withholding tax that is deducted from the sales proceeds by the solicitor acting for you. After then what happens? – do you get the balance paid to you and you can transfer it to a euro account outside Spain or is any other money withheld if it is thought there may be a further liability. It would be helpful to be clear about what is actually now the position and any information much appreciated
- This topic was modified 1 week, 5 days ago by Ptt.
- February 12, 2017 at 3:52 pm #195189
I’d find any information useful too.
- February 12, 2017 at 9:01 pm #195196
That is correct, there is a 3% withholding based on the sale value of the property. If you have made a loss on the property, then you should be able to claim it back, as long as you are up to date with your taxes. And if you have made a gain, it goes towards whatever your Capital Gain liability may be. A good accountant (gestor) should be able to help you reclaim funds.
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