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By rightsaidfred
#1101994
Hi all ,when selling a property in Spain and buying another here , is there still a 3% retention fee for Residents TIA
By rightsaidfred
#1102021
Karen Jones wrote:
Wed Nov 15, 2017 10:01 am
I think you have to be a fiscal resident to be excluded from paying the three percent.
Thanks, by that do you mean I need to declare my tax return over here
By Info
#1102025
Yes you need to be making your tax returns to Spanish Hacienda. It is why people who are resident but are not liable for income tax, due to their small earnings, are always advised to make a tax return even if it is a nil tax return. They are then registered on the system and can benefit from other allowances and credits. The Comm Valenciana is good as you will probably not be taxed on the sale of your home once you fulfil the tax criteria like over 65 or investing the proceeds in a new home within a set time limit.

Bee
By rightsaidfred
#1102033
Info wrote:
Wed Nov 15, 2017 1:11 pm
Yes you need to be making your tax returns to Spanish Hacienda. It is why people who are resident but are not liable for income tax, due to their small earnings, are always advised to make a tax return even if it is a nil tax return. They are then registered on the system and can benefit from other allowances and credits. The Comm Valenciana is good as you will probably not be taxed on the sale of your home once you fulfil the tax criteria like over 65 or investing the proceeds in a new home within a set time limit.

Bee
Thanks all, probably didn’t explain , I have filled a tax return over here for the last few years,so maybe exempt from 3% then :D

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