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View Full Version : Do I have to Pay Capital Gains Tax before the sale of a Property?



Unregistered
04-26-2010, 10:38 AM
I am trying to sell my proprty in Tennerife but a informed that I have to pay the Capital Gains Tax before the sale of the Property. Is this correct?

Regards.

Bill.

Lawbird Lawyer
04-26-2010, 11:49 AM
Dear Sir,

No, it's incorrect.

Perhaps you may be confusing it with a retention of 3% that is being withheld by the buyer and paid into the Spanish Tax office on account of your CGT liability.

I take it you are a fiscally non-resident in Spain. If correct, then they would apply the said 3% retention.

This is explained in detail on this thread (post number 18).-

http://belegal.com/forums/showthread.php?t=118&page=2#18

Yours faithfully,
Raymundo Larraín Nesbitt