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José M.
José M., Attorney
Category: Spain Law
Satisfied Customers: 6139
Experience:  Spanish Attorney
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I own a property in La Gomera,Canary Islands which I have left

Resolved Question:

I own a property in La Gomera,Canary Islands which I have left in my Spanish Will.I am living in Ireland.ie Iam non resident in Spain.Am I correct in thinking that as the result of the judgement of the European court of 2014?that Spain must cease discriminating between residents and non residents in respect of inheritance tax and that this has to come into force by Jan.2016 at the latest?
Submitted: 2 years ago.
Category: Spain Law
Expert:  José M. replied 2 years ago.
Hi there
In all cases Spanish law will force your inheredators to pay taxes here for real state propiety
They will have to pay to inscribe their rights at the real state register
Ig they do not pay in 6 months time since the fact of the deceased, they could get a fine
Thank you
Its not matter if you are resident or not
Customer: replied 2 years ago.
Do residents and non Spanish residents now pay the same rate of inheritance tax?
Approximately how much inheritance tax would my son have to pay on the apartment I have left him in La Gomera which is currently valued at 250,000 euro
Lawson Clements
Expert:  José M. replied 2 years ago.
Yes, all of them have to pay the sameBut in some cases there are reductions if is the regular home ( Vivienda habitual) I have no idea about the sum due ti pay because they considerer several data, catastarl value of the propiety ( most important) ralationship between parts ( less if relatives are more if they are not) and the the total welthness of the person who recibe ( pay more who has more) In all cases, the tax office in La Gomera will anser you about the sun if you call them and give the data they requiere, and they will do it for free Thank you José M spanish solicitor/atorney
Expert:  José M. replied 2 years ago.
Please to rate positively the service if you do not need more helpHave a good day
José M. and other Spain Law Specialists are ready to help you
Customer: replied 2 years ago.
Thank you for your email.One more question.I have held my property in the Canaries for 10 years.Does this mean that if I sell it for more than I paid,I will not be liable for Spanish Capital Gains Tax?
Lawson
Expert:  José M. replied 2 years ago.
Hi there again
When you sell the propiety you will have to pay 2 different taxes
Plusvalias at the city hall
Gain tax to spanish tax office at the next year. The sum due to pay will be calculated in this way
Price you sell, less price you bought, less expenses of notario and propiety register... egual to X
Fron This x you will have to pay 21 per cent of first 6.000 euros and 19 per cent from the rest
Example
You bought 100.000 and sell 150.000 with expenses of 10.000
So you win 40.000 euros
You have to pay 21 per cent on 6.000 euros and 19 per cent of 34.000 euros
Thank you
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