Selling my Tenerife Property - Capital Gains Tax?

I麓ve owned property in Tenerife for the last few years, I use it just as a holiday home maybe twice or three times in a year.

Im looking to sell my apartment now. I realise that there has been recent changes for the amount of capital gains tax charges.

Does anyone have more information that they can give me.. Thanks.. John..

Hi John, I work in Tenerife for an Estate Agent. When you come to sell your apartment you will be liable for Capital Gains Tax at 18% of your profit. As a non-resident it is usual for the buyer to retain 3% of the sales price to pay these taxes. It is extremely unkind to try and dodge this tax, as I am sure you would not want someone to do this to you. I would advise anyone who is buying a property from a non-resident to retain the 3% and ensure the taxes are paid, otherwise they will be levied against the property and therefore the new owner. Be honest pay your taxes.
Chris sorry could not answer again, hope you see this. If you click on my picture and then go to my public profile you will be able to send me an e mail. I dont think it is allowed for me to put the company name on here or a phone number.

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Thanxs hookiehelp.. ure info was much help..

I saw ure website aswell.. lots more infomation about buying and selling property in Tenerife..

goto google or yahoo and do a search for"visaverde tenerife"..

thanxs alot.. John

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