[QUOTE=robh;67540]
Quote:
Originally Posted by ExpatNick
Hi Nick,
Unless it is a new tax that only Dotty knows about or made up, she means CGT which is 15% and added to that currency exchange costs.
You can get tax credits for the CGT in most countries as well.
Regards,
Rob.
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It is true that CGT is 15% but only applicable to profit made obviously, and if you have had the property or investment more than 5 years then also not applicable. If you re-invest your money with in 180 days on a single investment then also no tax is payable. There is also a percentage allowance per year which you are allowed to make in property valuation before the 15% CGT is applied.....my advice is to use a reputable accountant who will answer all your questions and hopefully save you money. Like all tax systems...Brazil is complicated but an accountant is very cheap and will guide you through the process of sending money back to where ever.
For those in the "know" advice can be given on how to reduce your CGT on a single property sale and suggested profit. An official receipt (Nota Fiscal) for refurbishment work can be aquired to show reduced profit..... example:
Purchase price R$100,000
Resale price R$150,000
Provide a NF for R$50,000 shows no profit made hence no CGT and not difficult to aquire.
Raw land is different...just pay your tax on profit.
Property Brazil - Brazil property for sale near Fortaleza