{"id":1028,"date":"2009-05-14T13:40:22","date_gmt":"2009-05-14T11:40:22","guid":{"rendered":"http:\/\/www.velascolawyers.biz\/?p=1028"},"modified":"2015-04-30T13:42:58","modified_gmt":"2015-04-30T11:42:58","slug":"23-when-i-sell-what-are-the-capital-gains-tax-implications","status":"publish","type":"post","link":"https:\/\/www.velascolawyers.com\/en\/questions-and-answers\/private-taxation-and-vat\/23-when-i-sell-what-are-the-capital-gains-tax-implications.html","title":{"rendered":"When I sell what are the Capital Gains Tax implications?"},"content":{"rendered":"

Fiscal residents over 65 years of age and who have lived in the property for more than 3 years are not subject at all to capital gains tax when they sell the property. Residents and non-residents, including those over 65 years of age, living in the property for less than 3 years are liable for capital gains tax. As from the first of January 2010 the capital gain tax for fiscal residents will move to a progressive system from the previous 18% flat rate. For the first 6,000\u20ac taxation will increase from 18% to 19% and for the following 6,000\u20ac taxation will increase from 18% to 21%. Non-residents will pay a Capital Gain Tax of 19% flat.<\/p>\n

If the seller of the property is non-resident, the buyer will pay 97% of the property price at the signing of the deeds. The buyer will have one month to pay the remaining 3% to the Spanish treasury using form 211. This 3% retention is an advance on the capital gains tax that the seller will have to pay later on.<\/p>\n

If the seller is a fiscal resident and is selling his main residence (where he has lived more than 3 years) he is not liable for capital gains tax if he reinvests the gains for purchasing another main residence within two years. If only a portion of the gains from a property sale is reinvested, then they will get a relief in the form of a percentage up to the total amount reinvested.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fiscal residents over 65 years of age and who have lived in the property for more than 3 years are not subject at all to capital gains tax when they sell the property. Residents and non-residents, including those over 65 years of age, living in the property for less than 3 years are liable for […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[29],"tags":[],"class_list":["post-1028","post","type-post","status-publish","format-standard","hentry","category-private-taxation-and-vat"],"yoast_head":"\nWhen I sell what are the Capital Gains Tax implications? | Velasco Lawyers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.velascolawyers.com\/en\/questions-and-answers\/private-taxation-and-vat\/23-when-i-sell-what-are-the-capital-gains-tax-implications.html\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When I sell what are the Capital Gains Tax implications? | Velasco Lawyers\" \/>\n<meta property=\"og:description\" content=\"Fiscal residents over 65 years of age and who have lived in the property for more than 3 years are not subject at all to capital gains tax when they sell the property. 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