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durx
08-07-2007, 01:20 PM
I am selling my 4 year old property, and planning to purchase another property a few miles away.

as a non resident, will i still have to pay the 3% redemption charge or will that be waived seeing as i will be reinvesting the money into another property.

If i take a deffered mortgage to purchase my new property until i sell my existing property, will that also affect my redemption charges?

Thanks
Phil

Expert advisor
09-10-2007, 07:29 AM
Being non-resident in Spain you are bound to pay the 3% as part payment of the Capital Gains Tax even when you are reinvesting the money into another property.
Furthermore, the obtaining of a mortgage to finance the purchase of the new property will not affect the payment of taxes related to the sale of your property.

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