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English > Russian: Legal information for real estate buyers, 7288 words
Legal information for real estate buyers
7288 words
Only best price considered
Example of text:
CAPITAL GAINS TAX
On November 28, 2006, the Spanish parliament
passed law 35/2006, modifying the 2007 regu-
lations, with the outcome that, as of the Janu-
ary 1, 2007, a non-resident owner pays 19% of
the profit made when selling a Spanish property.
The resident owner’s capital gains tax has been
raised to 19%. The non-resident tax cut comes in
response to a ruling from the European Union that
the former rate of 35% discriminated against non-
resident EU property owners in Spain, while resi-
dents were taxed at only 15%. These rates have
now been made equal. Since January 2010, the
new rate of 19% applies to all sellers, resident and
non-resident, even if they are not EU citizens.
Until January 1, 2007, all buyers of Spanish prop-
erty from non-resident owners were required to
withhold 5% of the total purchase price and pay it
to the Spanish tax authorities because of the non-
resident seller’s capital gains tax liability.
Language pair(s)
English
> Russian
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