01 Feb 2008 8:03 PM:
The problem may arise when the taxman thinks that by "passing on the contract" to someone else you are running over 1 taxed step.
In other words, selling before completion avoids tax on the transfer... a tax that you wuold have to pay should you have completed. This can be the argument to charge a fine for an extra 7%...
What do you think? I do not know of any cases in practise, apart from the one mentioned by
flyingcat. It would be interesting to know how the payment of the extra 7% was communicated, actioned, etc.
Thanks and regards,
Manuel.
This message was last edited by Lawyers on 2/1/2008.This message was last edited by Lawyers on 2/1/2008.
Thread:
Transfer Tax
--------------------------------------