Capital Gains Tax

[Lavanda]

Gosh! 'Gisela Radant' is a bit formal, Beachcomber. 'Gisela' will do fine, thanks. As for your comment about the 'gutter press' I'm not sure they would carry any sort of news at all much less financial news. Don't know.

I got the news about the new tax situation from the May edition of "Spain" magazine. On page 112 David Searl answers queries relating to Property & Finance. David Searl, as we all know, is the man who wrote the book 'You and the Law in Spain'.

In response to a CGT question about the proposed change in the law he replies:
"Yes it is true. The good news is that non-resident capital gains tax will be slashed from 35% to 18% as of 1 January 2007. Remember this is the proposed budget which has not yet been enacted in law (Beachcomber is right) BUT NO OBSERVER EXPECTS THIS TO CHANGE."

His reply goes on to detail more info and outline other senarios.

Seems pretty clear to me.[/i]

[Beachcomber]

Gisela , having heard some of the total rubbish David Searl has come out with over the past 20 odd years (on the occasions he has actually managed to get it out) nothing he says inspires me with much confidence.

[El Cid]

Gisela , having heard some of the total rubbish David Searl has come out with over the past 20 odd years (on the occasions he has actually managed to get it out) nothing he says inspires me with much confidence.

You must obviously have some good reasons for having this opinion of David Searle, but personally, I have always found the information in his book to be 100% accurate and up to date.

Even then, I would always get a "second opinion" from another source before making any personal commitments.

Sid

[Beachcomber]

Sid, I don't want to bore the forum with the details but have sent you a PM.

[patricia]

I did find that the information in his book is not fully comprehensive. I was looking for information on "indefinite" contracts but he gives no information what so ever on these except to warn future employers not to use this type of contract, however if like me you have an "indefinite contract" some information would have been useful, instead he has made the presumption that only Spanish nationals hold indefinite contracts, and that all readers of his book are employers and not employees which I thought was somewhat short sighted. He goes on to say that the labour courts have a long history of favouring the employee and why not!

[patricia]

I don't think we would be bored by your comments Beachcomber, they are always very informative

[Beachcomber]

Thanks for the compliment, Patricia, but I think I would prefer not to.

[Lavanda]

Crumbs all this stuff has now gone beyond me. I have found his books a little out of date (writing to press to publication time lapse I guess) but the info has been basically sound - for me. However, what he said re: the CGT issue ties in with the broadsheet press here in the UK especially within the Property, Business, Money, etc. weekend pull out sections. In fact Spain is in the news a lot at the moment: Spanish companies seeking acquisitions abroad to expand; Spain sorting out 'black money' and the Mafia (no jokes about Marbella, please); regulating tax (inc CGT) etc.

Who knows? We'll have to wait and see but the sweet pea offer still stands.