Tax break for second-hand homeowners in Spain

LAST UPDATED: 13 Nov, 2014 @ 13:32
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Tax break for second-hand homeowners in Spain

PROPERTY owners selling second-hand homes have been given a break by the Spanish Government’s new tax reforms.

An amendment to the Income Tax bill will see sellers pay less tax and receive more money for their homes.

The Ministry of Finance approved the Partido Popular’s bill amendment to reduce capital gains tax rates for homes under €400,000.

The bill comes into effect on January 1, 2015.

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