Important Tax Break Announcement
June 7th 2012 | by Ginés GarcíaThe Spanish Royal Decree 18/2012 on the “Reorganization and Sale of Real Estate assets from the Financial Sector” that came into force on the 11th May 2012 will entitle purchasers who buy properties between 12th of May and 31st December 2012 to a 50% reduction on Capital Gains Tax when sold in the future.
The tax break applies to both individuals (including residents and non-residents) and companies, but excludes sales between spouses, own children, or between any other parties within up to a second degree kinship relationship.
The measure is clearly aimed at investors and holiday-home buyers, but only if they buy this year.