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Monday, 9th of January of 2012
Capital Gains Tax (CGT)
Just announced - a
second hike in the Capital Gains Tax (CGT) levied on non-residents by the
Spanish Tax Office in as
many
years.
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From January the 1st 2012 CGT for non-resident property
owners in Spain will stand at 21% across the board. This follows a previous rise
in 2010 from 18% to 19%.
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In
2007 the European Union put pressure on Spain to lower the then CGT rate of 35%
for non residents (15% for residents) to 18% - deeming it to be an unfair
penalty on non-residents. A rise of 1% in 2010 passed relatively unnoticed but
shows a worrying trend towards accelerating tax increases to boost the dwindling
economy.
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Spanish Residents will also feel the sting with figures rising to
21% up to 6000 Euros (Eu), 25% between 6001 Eu and 24000 Eu and 27% on higher
figures.
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Call us now
for further information on this and other tax changes
and
 how we can
help you save money.
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