CAPITAL GAINS TAX WHEN SELLING A PROPERTY IN SPAIN
IntroductionWhen you move between countries and sell a property, the tax consequences can be confusing. One of the most common questions property owners ask is how capital gains tax (CGT) in Spain works. CGT is charged on the profit you obtain from selling an asset such as a house. Whether you are a resident or a non resident determines the filing deadline and the tax rate that applies.________________________________________Who Must Pay CGT in Spain?Residents (people who spend more than 183 days a calendar year in Spain) and non residents are both subject to CGT, but the rates differ. Residents face a progressive scale, while non residents pay a flat rate.________________________________________Resident CGT RatesProfit range Tax rateUp to €6,000 19 %€6,001 – €50,000 21 %€50,001 – €200,000 23 %€200,001 – €300,000 27 %Over €300,000 30 %________________________________________Non Resident CGT RateNon residents are taxed at a single 19 % on the entire gain, regardless of amount.________________________________________How CGT Is CalculatedThe taxable gain equals the sale price minus the acquisition…