property tax
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Can someone explain to me how much tax is retained by the spanish government if you sell your property with say a 20,000€ profit? Do you pay the tax immediately upon sale?
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It depends on quite a few things. Where you live. If you are resident or non-resident. If you are using the profit to buy a new home (in any EU country). If it is your main home or a second home. How old you are and how long you have lived in the region.
It could be anything from nothing to a quarter of the profit. 3% will be retained at the time of sale for non-residents .
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And don't forget the "other" capital gains tax (regardless of how much or even IF you made a profit: Plus Valia, which must be paid by all sellers, to the town hall, within 30 days of the sale. You can find out the exact amount at any time by asking at your town hall. Can be thousands. :-(
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