Selling your home as a “Resident” on the Costa Blanca? Will you be liable to pay tax?
If you’re a “fiscal resident” of Spain aged 65 years or older and selling your primary residence (the home you live in full time), you will not be liable to pay tax on your sale, even if you’re selling at a profit. However, you must have owned the property for more than 3 years.
If you sell in less than 3 years of owning it, you will be liable to pay Capital Gains Tax if you’ve made a profit. This tax is charged at 19% on the profit made. You will not pay the Capital Gains Tax until the following year when you complete your “Renta” tax return.
If you’re a “fiscal resident” of Spain and selling your secondary home (not the home you live in full time), you will be charged Capital Gains Tax if selling at a profit, regardless of your age or how long you’ve owned it.
Selling your home? Call me today, 966 718 392. We have buyers waiting!
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