Call us free on

0800 177 7051
THIS WEEKS WEATHER
TODAY'S WEATHER WEBCAM
TODAY'S RESORT WEBCAM
LATEST RESORT VIDEOS
NEW EVENTS & NOTICES
  Back to Home Page
    Quality of Life, Sun in the Depths of Winter
shadow
Share on Facebook Tweet About This News Article on Twitter

Property News

 

Dateline: 12th May 2012
Source: The Almanzora Group Ltd
Subject: 50% Reduction In Capital Gains Tax
Location: Desert Springs Resort
Title: Further measure introduced by Spanish Government to boost property market means its an even better time to buy in Spain!
     

Texas Country Villa at Desert Springs Resort

Texas Country Villa at Desert Springs Resort

 

Malibu Beach House at Playa Marqués

Malibu Beach House at Playa Marqués

 

Townhouse at Harbour Lights at Villaricos

Townhouse at Harbour Lights at Villaricos Traditional Fishing Village

 

In order to further encourage and continue the evident resurgence in real estate property sales since the introduction of the 50% reduction on new build Government IVA (VAT) from 8% to 4%, the Spanish Government has approved a Royal Decree to be effective from 11th May which provides a reduction of 50% in the Capital Gains Tax on sale proceeds for properties bought between 11th May and 31st December 2012. This is regardless the future sale date.

In a press conference, the Minister of Development, Ana Pastor remarked; “It is going to be implemented an exemption of 50% of revenues arising from the sale of real estate that are acquired from 11th May to 31st December”.

This new reduction is available to individuals, investors and companies, whether tax resident in Spain or not.

The tax remission benefits are subject to the following conditions: 

  • The property must have been purchased between 11th May and 31st  December 2012
  • It must be an urban property (residential or commercial) It must be an urban property (residential or commercial) 
  • The buyer and seller should not have any connection, either corporate or family 
  • The property should not be considered a commercial development or venture.

 

The tax reduction will be applied in the annual Income Tax declaration or in the company tax of the fiscal year in which the capital gain was generated.

Provided that the applicant meets all necessary requirements, the capital gain to a non-Spanish tax resident on sale of a Spanish property is taxed as follows:

Sale in 2012-2013           Sale in 2014 or after:

Before: 21 %                 Before: 19%

Now: 10.5 %                   Now: 9.5%

 

The tax on capital gain to a Spanish tax resident is as follows:

Sale in 2012-2013          Sale in 2014 or after

Before: 27%                 Before: 21%

(depending on Gain)                                    

Now: 13.5 %                Now: 10.5%

 

In the case of companies, the Capital Gain is taxed at approximately 15%.

There really hasn’t been a better time for prospective buyers to take advantage of Spain’s enticement to purchase.

With properties at the Desert Springs Resort, Villaricos Fishing Village and Playa Marques beach development available with up to 50% off List Price, 50% reduction on new build VAT, the best GBP/Euro exchange rate available since November 2008, and now the introduction of 50% reduction on future Capital Gains Tax, it’s a buyers market and a great time to purchase!


For further information contact: The Almanzora Group

Tel: +44 (0) 1242 680 116

Email: tag@almanzora.com

 

Copyright Notice

The Almanzora Country Club

Please be aware that there is NO CONNECTION whatsoever between the so called Almanzora Country Club and any of the developments and companies referred to in this web site.

 
GET IN TOUCH QUICKLY
Call us free on
0800 177 7051
Request our free
Holidays Brochure
E-mail your Enquiry to
us in the UK or Spain
Wedding & EventsDesert Springs
Wedding & Events
UNIQUE HOLIDAY OPPORTUNITIES
Our Special
Holiday Deals
Accommodation Options
The LodgeThe Lodge @
Desert Springs
VillaricosVillaricos
Fishing Village Rentals
Playa MarquesPlaya Marques
Beach Rentals
Super Holiday Packages
Desert Springs Family ResortDesert Springs
Family Resort
Desert Springs Golf ClubDesert Springs
Golf Club
Desert Springs Golf 4 WomenDesert Springs
Golf 4 Women
Desert Springs Tennis, Paddle & VolleyDesert Springs
Tennis, Paddle & Volley
Desert Springs Sports & FitnessDesert Springs
Sports & Fitness
Desert Springs RehabilitationDesert Springs
Rehabilitation
Desert Springs for Schools & ClubsDesert Springs
for Schools & Clubs
Desert Springs Archery & ShootingDesert Springs
Shooting & Archery
Villaricos Scuba PackagesVillaricos
Scuba Packages
RECOGNITION & ACHIEVEMENTS
Golf Course
Desert Springs Resort  2016 Tour Championships Venue

Desert Springs Resort
2015 Tour Championships Venue

The Golfers' Choice 2015
Outstanding Leading Courses

Desert Springs Resort
Best Golf Resort For Groups

Quality of Development

The Bentley International Homes
Award for Best Spain Development

The Daily Mail Best Almeria
Development Award

Architectural Excellence

The Bentley International Homes
Award for Best Architecture

Environmental Sensitivity

The Spanish National Madera Verde
Prize for Environmental Sensitivity

Quality of Landscape

The New Homes Gardens Gold
Medal for Best Overseas Landscape

Superb Dining

The Trade Leaders Club New
Millennium Trophy for El Torrente
Restaurant

Excellence in Tourism

The Castillo de Cuevas Award
for Sevices to Tourism

QUICK LINKS
Homes in the Almanzora
Venues for Celebrations & Events
Golf at Desert Springs
Useful Telephone Numbers
Other Quick Links
Spain Property
Home Page

Website hosting & maintenance
by TurnRound New Media