Solicitors, Spanish Conveyancing Services, Property Lawyers - Costa Blanca, Torrevieja, Spain

Rodas Consulting S.L.

Danish Norska Swedish ruso Nederland Nederland Fran�aise

Legal Services

Mortgage Calculator
Capital Gain Taxes

Capital Gain Taxes

2. Several Escrituras

However, if you have more than one escritura on the property, the situation becomes more complicated. It can be that you first bought one plot of land, and later added another one. Or that you first bought the land and some time later declared the house in an "escritura de obra nueva". Or you made an additional "obra nueva" for additions to the house, to increase the total declared value.

In this case, several calculations must be made, one for each of the sums mentioned in the different escrituras, making the additions and subtractions described in the previous chapter. If you have to differentiate between the land part and the construction in the new escritura, you can use several methods:

An example: You sell at a declared price of 70000 Euros in 2002 a property bought at the end of 2000 for 60000 Euros, but declared only 48000 Euros in the escritura de compra-venta at that time. The costs involved in the purchase represented 4000 Euros. On the total declared costs of 52000 you apply the coefficient for the inflation: 52000 Euros x 1,0608 = 55161 Euros. Then you deduct the sales costs of the property, that may amount to 3000 Euros, giving a net declared sales price of 67000. The difference between the net declared sales price of 67000 Euros and the current value of your investment, 55161 Euros, is 11839 Euros, your capital gains.

 

© RODAS CONSULTING SL IS A COMPANY REGISTERED IN SPAIN WITH REGISTRATION
NUMBER B-53805917 AND REGULATED BY THE LAW SOCIETY

Copyright || Disclaimer || Aviso Legal