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Capital gains on Poland property - tax query?


Ewaha  1 | 1  
23 Jul 2012 /  #1
I am a polish national who purchased a property in Poland in 2006 sold the property 4 yearslater which is in 2010.The money I made on the property I spent to purchase a flat in London. I assumed that since Poland is in European union I will not have to pay capital gains tax as I bought another property of a higher value. Apparently however that's not the case.

Can anyone please advise if that is the case and if so what tax I am liable to pay?
poland_  
23 Jul 2012 /  #2
if so what tax I am liable to pay?

totalservecy.com/informationsheets/en/Information%20Sheet%20No.57.pdf
OP Ewaha  1 | 1  
23 Jul 2012 /  #3
Thank you.

Does anyne know if this capital gains tax is not payable as both countries were in the Eu at the time?
terri  1 | 1661  
24 Jul 2012 /  #4
I believe that if you sell a property in Poland before 5 years is up, you will have to pay Tax on the difference between the purchase and selling price - i.e. 'profit'.

Check websites for detailed explanations.
It does NOT make any difference that you purchased a flat in London. Polish tax is payable as you DID NOT buy a place in Poland.
poland_  
24 Jul 2012 /  #5
Does anyne know if this capital gains tax is not payable as both countries were in the Eu at the time?

You are obliged to pay the capital gains tax in Poland, as you sold the property in year 4and did not reinvest the money in Poland.
Wroclaw Boy  
24 Jul 2012 /  #6
totalservecy.com/informationsheets/en/Information%20Sheet%20No.57.pdf

A PDF link!!

I assumed that

You assumed wrong dude
youtube.com/watch?feature=player_embedded&v=Caf-HgrhIHo

I think (and this is a grey area) that youre liable to pay 20% of your capital gains tax if you don't reinvest the FULL AMOUNT of what you sold for in Poland within 5 years. If you reinvest less then its a sliding scale tax payment. From what i understand the tax office will simply send you a bill at the end of the period and thats that.

There are different laws if you lived there and it was a sole property.

It would be good to get this one cleared up once and for all, is there a tax lawyer in the house?

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