- January 2, 2009 at 10:13 am #54613
I wonder if anyone can give me some advice, I sold a property on the Costa del Sol last July, as I hadn’t owned it for three years the Tax Office held back money for Capital Gains Tax, which would be refunded if I bought another property, I did complete on my new property a month later and eventually the Tax was refunded, they did howerer deduct the Patrimony Tax due for 2007. I have now been advised that I now have to pay Patrimony Tax on the value of my new property for the whole of 2007 as well. This would mean the Tax would be based on the total value of both properties, I know they call this a wealth tax but I never owned both properties at the same time, but they want to tax me on the combined total of both properties, any advice would be appreciated
- January 2, 2009 at 4:12 pm #88980
Patrimonio tax is calculated pro rata on the number of days of ownership between date of purchase and 31st Dec. From where has your advice to the contrary come?
- January 3, 2009 at 10:22 am #88987
Our Lawyer informed us that Patrimony Tax is based on the complete year despite when you bought the property, Income Tax on that is proportional, my concern is that we did not own the 2 properties together but are being tax on the value of the combined properties
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