If you are not resident in Spain and you owned a property that you sell, you are required to declare and pay tax on any profit made from the sale.

 

The tax is calculated based on the difference between the acquisition cost and the sale price, minus related expenses. This amount is then multiplied by the 19% tax rate.

 

It is important to note that when a non-resident property is sold in Spain, the buyer is required to withhold 3% of the sale price as part of the seller's capital gains tax. This means that the buyer deducts this amount from the sale price and pays it directly to the tax authorities.

 

The seller is then required to report this withholding tax on their capital gains tax return and include it in their final tax liability.

 

Proper tax settlement requires cooperation between two parties and can be quite complicated, so it is worth seeking the support of a tax specialist.

 

If the calculated capital gains tax is higher than the withholding tax, the seller must pay the difference to the tax authorities. On the other hand, if the withholding tax is higher than the tax due, the seller can claim a refund of the excess from the tax authorities.

 

The deadline for reporting is 4 months from the date of sale.

 

The cost of settling the declaration for 1 owner is 199 euros, and for 2 is 249 euros.