For capital gains purposes, do they count the price paid including the IVA paid.

Post reply   Start new thread
:: New - Old :: Old - New

Pages: 1 |

Forum home :: Latest threads :: Search forums
The Comments
08 Sep 2015 2:32 PM by ossie1 Star rating. 36 posts Send private message

We are selling our apartment and on paper it looks as if we have a small profit but if we count the 7% IVA we paid then we have large loss. 

For spanish capital gains tax purposes. Do they take the figure inclusive of IVA as the base purchase price or do they take the price before IVA is added. 

It would affect us in that if they took the inclusive figure we would not have any capital gains tax to pay at all.

Thank you 

Tom ...


body p



Like 0      
08 Sep 2015 3:10 PM by Roberto Star rating in Torremolinos. 4551 posts Send private message

Roberto´s avatar

IVA and any other purchase costs such as Notary fees, legal fees etc. can be deducted



_______________________

 

"Get your facts first, then you can distort them as you please"

Mark Twain

 

 

 




Like 0      
08 Sep 2015 4:14 PM by ossie1 Star rating. 36 posts Send private message

Thank you, that is very reassuring... 

Tom ... 


body p



Like 0      
09 Sep 2015 10:18 AM by GB45 Star rating in Wiltshire and holida.... 130 posts Send private message

We sold our apartment last year at a huge loss but still paid a small amount of capital gains tax. We were told that it was the increase on the value of the land! We questioned it but as it was already deducted from our cheque there was not much that we could do. So ossie, you may have to pay a small amount..............who knows?

(we are still waiting for our 3% retention back but it's only been 10 months)





Like 0      
09 Sep 2015 10:30 AM by Roberto Star rating in Torremolinos. 4551 posts Send private message

Roberto´s avatar

The increase in the value of the land would refer to the Plus Valia, applicable to all sales, which is payable to the town hall within 30 days of the sale. Depending on how long you have owned the property, it could range from nothing to thousands. Did you get a receipt to prove it was paid?

This amount can also be deducted when calculating CGT, as well as any estate agent & legal fees paid.



_______________________

 

"Get your facts first, then you can distort them as you please"

Mark Twain

 

 

 




Like 0      
09 Sep 2015 12:10 PM by GB45 Star rating in Wiltshire and holida.... 130 posts Send private message

Aah thanks  Roberto, we didn't understand that. We paid a deposit on the apartment in 2005 and it was completed in early 2007. I'm sure that we have the receipt, or at least a bill detailing all the costs deducted before we received our cheque. As I said is was a relatively small amount of around 1000 or so euros.





Like 0      

Pages: 1 |

Post reply    Start new thread


Previous Threads

Procedure for transfering electricity and water account when selling ... - 2 posts
Electrical work - 3 posts
Jack of all trades - master of none - 11 posts
Anybody Renting From The Bank? - 2 posts
Long/mid term 3month rental Murcia/Alicante area wanted - 0 posts
Banks liability and precedents for case law. A question for lawyers. - 12 posts
Castellon airport - car hire - 18 posts
How much less to offer on asking price '%' ... - 23 posts
Community President Expenses - 4 posts
Help with redemption please :) - 1 posts
president - 0 posts
Good Place To Rent Costa Calida Area - 27 posts
problems with headphones - 0 posts
Hoja de Reclamación - 6 posts
Smart meters - 4 posts
Vaccinations for a visit to China - 1 posts
What's it like to live full-time in the region of Playa Flameca? - 32 posts
re- locating to spain - 1 posts
DENUNCIAS BY OWNERS LETTING ‘ILLEGALLY’ - 24 posts
Solvia Bank Mortgage - 0 posts
What are the 3 things you would change - 1 posts
What would I do differently - 1 posts
sewing machines - 0 posts
Parking on the street for Free all day / night in Extramurs, Valencia? - 1 posts
Some tools with which to learn Basic Spanish - 2 posts

Number of posts in this thread: 6

DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


1 |
Our Weekly Email Digest
Name:
Email:


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x