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Thinking of the distant future…

When registering the business with the Tax Office, it may be useful to ask a surveyor or real estate to give a market value for the property and to note this in Annex B section 8 of the following year’s tax declaration. This value will stay in the books until the property is sold one day. In accordance with the years used for private use and for holiday rental, a different percentage applies to the usage for the business, often at a more favorable CGT rate.

Capital Gains

There is information circulating that owners running Local Lodging businesses could face a Capital Gains Tax liability when selling the property or closing the business.
This information has not been confirmed!
Several institutions, including NALLE and the Finance Authorities, are working on the issue in order to answer this question in a satisfactory manner.
If you have heard of this rumour: don’t get spooked by it!
Keep an eye on our website, we shall publish an information about the issue as soon as it becomes available!

Capital Improvements valid for 12 years

Thinking of selling a property?  TheNALLE logo-red 30% good news: Beginning in 2015, documented capital improvements made in the 12 years prior to sale of real estate can be used to offset immoveable capital gains. Formerly, the allowable time period was 5 years.

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