Reply To: 35% capital gains theft



phantom phixer, you can offset all the costs associated with the purchase (VAT, Stamp Duty, Land & Registry Fees, Lawyers’ Fees, etc), and the sale (Agent’s Fees, Plusvalia Municipal, Lawyers’ Fees, etc). You can offset also most of the costs of any refurbishment of the property. However, the furniture is not included in this list. (Independent, please confirm this is correct)

What Guest suggests is certainly an option, if you don’t plan to buy property in Spain again for at least 4 years and 6 months (by virtue of statute of limitations on this matter, the tax office will be precluded to ask for any taxes after 4 years and 6 months). I haven’t had news yet about the Spanish Taxman chasing non residents outside Spain for CGT due. However, be warned that if this amount exceeds €120,000, it will be considered a criminal offence by the Spanish authorities.

Please note that this is against the law, and no lawyer will (publicly) provide this sort of advice.