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Yet another property tax
Posted: Sat 20 Jan 2024 2:19 pm
by susiesusie
Just been informed that if you sell your property here but you are not an official resident then you will be charged a 4.8% tax .
Surely not ..where had this come from ?
Re: Yet another property tax
Posted: Sun 21 Jan 2024 6:56 am
by Keithcaley
Who gave you this information?
I could be wrong, but it sounds like the 2% Earthquake tax plus the 2.8% "Capital Gains" tax (It's not actually Capital GAINS, because it seems to be charged on the full Contract/valuation price!)...
It's nothing to do with Residential Status, just that the CG tax is charged to all Foreigners, regardless of where they live.
Re: Yet another property tax
Posted: Sun 21 Jan 2024 8:18 am
by Reyntj
It's 4.7 % for off-shore companies ,?
But doesn't the earthquake tax finish after Feb as it was only applied for a year .
It was on earnings 1-5 % and 1.5% on interest and rent payments .I hadn't seen it on cgt but would be no surprise !
I did read on a telegram forum that they where increasing for foreigners but can't find anything else.
Re: Yet another property tax
Posted: Sun 21 Jan 2024 6:35 pm
by susiesusie
Was informed by a reliable and trusted estate agent
Re: Yet another property tax
Posted: Mon 22 Jan 2024 10:29 am
by Keithcaley
susiesusie wrote: ↑Sun 21 Jan 2024 6:35 pm
Was informed by a reliable and trusted estate agent
Well, that certainly narrows it down!