Selling a house - calculation of Capital Gains Tax
Aug 21st 2015, 1:50 pm
#1
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Selling a house - calculation of Capital Gains Tax
I believe that when selling a house here in Spain, CGT is payable and based upon the difference between what was paid/declared as the value of the property when originally purchased and any profit made (if any!) when selling.
Can someone please tell me how, if the property was originally purchased in Pesetas and therefore before the introduction of the Euro, how the original value of the house is calculated so as to provide a comparison with its current value in Euros?
Apologies in advance if I've missed what transpires to be an obvious answer to this question!
Thanks.
Can someone please tell me how, if the property was originally purchased in Pesetas and therefore before the introduction of the Euro, how the original value of the house is calculated so as to provide a comparison with its current value in Euros?
Apologies in advance if I've missed what transpires to be an obvious answer to this question!
Thanks.
Aug 21st 2015, 2:09 pm
#2
Herreño
Joined: Aug 2015
Location: La Isla Meridiano
Posts: 274
Re: Selling a house - calculation of Capital Gains Tax
Aug 21st 2015, 2:51 pm
#3
Retired and loving it!
Joined: Sep 2007
Location: Ontinyent - Valencia region (campo)
Posts: 5,160
Re: Selling a house - calculation of Capital Gains Tax
They us the fact that there are/were 166 pesetas to the euro.
Aug 21st 2015, 4:01 pm
#4
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Re: Selling a house - calculation of Capital Gains Tax
Thanks for the responses. I was correct, the answer is pretty obvious! Blame the heat!!!
Thanks again.
Thanks again.
