Capital Gains Tax

digger · Post by **digger** » Thu Apr 28, 2005 2:07 pm

I understand that if one sells a property in Portugal and takes the money out of the country – as opposed to reinvesting it here – there is some kind of Capital Gains Tax to be paid. Does anyone know how much??

Guest · Post by **Guest** » Thu Apr 28, 2005 2:42 pm

Capital gains tax of 25% arises on the sale of any property bought by the owner after 1989. Residents can, however, roll over the capital gain into the purchase of another property or properties in Portugal in the time frame of one year before or two years after the sale giving rise to the CGT charge.

Guest Manc · Post by **Guest Manc** » Fri Apr 29, 2005 1:11 pm

What about property tied to offshore companies? Is the CGT treatment different ?

digger · Post by **digger** » Fri Apr 29, 2005 1:59 pm

Guest,
thank you for your response …… 25% !! shocking
But I am beginning to think it may not be simply a straight percentage….

Guest Manc,
Try doing a search on this site for CGT, you may find the answer to your question.

I guess ultimately one should seek professional advice.