Quote Originally Posted by philip View Post
i bought a property in 2002 for 212,000Euro's i now want to sell, it is worth circa euro's 450,000. I am a non resident.
I have spent circa 60,000 euro's on building work , bathroom , kitchens etc . I was advised if I held it for more than 10 years there was a tax advantage - is this correct? Having raed your site it appears i will staill pay 19% on teh gain and 3 % retention> can you clarify.
Hello Philip,

Enclosed is a preliminary table with your capital gains calculation. It is only for guidance as the costs involved in your purchase and sale would need to be taken into account to obtain a correct figure.

Date of Purchase 01/01/2002
Date of Sale 01/04/2012
Purchase Price 212,000.00 €
Purchase Costs 76,960.00 €
Sale Costs 0.00 €
Selling Price 450,000.00 €

Updated Purchase Price 338,574.43 €
Coefficient. 1.1717
Capital Gains 111,425.57 €
Capital Gains Tax Rate 21%

Capital Gains Tax 23,399.37 €