Taxation

There are generally four main categories of taxes relating to foreign property:

  • Transaction or Purchase Taxes(Stamp Duty, Transfer Tax, Purchase Tax);
  • Operating Taxes(usually an annual real estate tax-Municipal tax);
  • Profit Taxes (Capital Gains Tax)- This comes into effect when you sell an asset and make a gain or profit;
  • Vat if applicable- Vat is generally charged on the purchase of a newly built property and not on an existing one.
  • Other taxes that you may have is wealth tax and inheritance tax.

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