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-   -   5% Retention for Capital Gains Tax after sale of apartment (https://www.forum.puertopollensa.com/living-working-pollensa-area/1750-5-retention-capital-gains-tax-after-sale-apartment.html)

Mariquita 18-02-2007 22:51

5% Retention for Capital Gains Tax after sale of apartment
We sold our apartment in October 2005 and 5% of the selling price was retained by the lawyer as required by the government in case of capital gains.

We have no capital gains tax as we didn't make a profit but we still haven't received our 5% back. We have enquired several times with the lawyer when we will recived this and he assures us that it takes time. However, 16 months have now passed with no hint of our money back.

Has anyone else had experience of this?

Belladonna 19-02-2007 08:03

Re: 5% Retention for Capital Gains Tax after sale of apartme
Sorry, but yes. Still waiting 2 years on. Manana!!:(

Lorenzo 01-12-2009 13:50

Claims for refunds of Spansih CGT
Not sure if anyone else has commented on this already but there seems to be a good chance of claiming back some Spanish Capital Gains Tax for properties sold by non-residents between 1999 & Dec 2006.
Have a read of this article and see what you think:-

Costa Alvarez Manglano | Spanish tax reclaim | International Tax Expert Lawyers

Hope it's lucky news for some people!

eleanor 01-12-2009 15:15

A friend of ours who sold via an English estate agent was told to be very careful because of the black money situation. They were told it could open a huge hornets nest.
Haven't heard of any other experiences though.

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