Capital gains tax (CGT) is due on the profits made from selling a property in Spain. So, the difference between the sale price, and the price you initially paid for the property. The rate of CGT depends firstly on your residency status. If you’re a non-resident, it’s set at a flat rate of 19%⁸.. If you are a non-resident selling property in Spain, tax implications include the 3% retention. This means that 3% of the current sales price is retained by the lawyer acting on behalf of the buyer. This is paid to the hacienda pública (tax office) in the name of the seller on tax form 211. This is a legal requirement when non-residents sell.
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The withholding tax to pay by the buyer of the property would be 3% of the total sales price 280,000.-€ x 3% = 8,400.-€. The capital gain experienced by John and Mary is 25,000.-€. Since the tax rate applicable to the capital gains of non-residents is 19% on the capital gain, we can conclude that Mary and John must pay 4,750.-€ as shown.. The 3% withholding tax. When a non-resident sells a property in Spain, the buyer is required to withhold 3% of the sale price and pay it to the Spanish tax authorities as a safeguard against the seller’s potential capital gains tax liabilities. This amount is deducted from the selling price at the time of sale.
