Selling And Buying Property

[clayton]

Hi
I was thinking about trying to sell my property & buying in another area in Bulgaria. Has anybody done this & do you pay a capital gains tax or some kind of tax, where you would loose out. How would I go about starting the process of selling? Any information
Thank you

[jaime]

Hi Clayton,

yes you will pay capital gains of 15% on any profit you make from the sale of your property i.e. if you brought the house for 10,000euro and you sell for 15,000 you will pay 15% of the 5,000 profit in tax.

Do you have an active company? Or just a company that owns the property?

An active company would need to have you listed as an employee and a yearly return put in by an accountant and this would change the circumstances of selling and buying property in a different area (re-invest using your profit and off-setting money spent on improvements) let me know and I will post further on the subject so everyone can read it instead of just PM's

See you soon