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villa1
05-29-2006, 09:58 PM
I have a small Spanish mortgage on my property in Las Filipinas. I do not have residentia and would like to know if I sold up what costs and taxation would I be liable for.

Expert advisor
06-06-2006, 06:40 PM
In response to your message, should you cancel the mortgage, you will not pay taxes for it, although you will have to pay the Capital gain tax for the sale as all non residents. This tax is the 35% of the net profit you get from the sale.

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