Selling a flat abroad - taxable in Brazil ?

Last activity 15 June 2013 by Polvano

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PolvanoMember15 June 2013 03:26:11

Would anyone happen to know under what circumstances one would have to pay capital gains tax as a non-permanent visa holder in Brazil if one planned to sell one's flat abroad (no double-taxation agreement) ?
Only if sold with a profit ? Only if the sale price exceeds a certain sum ? Not at all if the purchase of the flat abroad already exceeds a specific number of years ?

Would be very grateful for useful information.

Thanks in advance and with best regards,

Michael. .

JamesViP15 June 2013 10:08:12

11272

The question is did you use Brazilian earned income at any time in order to purchase the flat?

If you didn't then you should not pay taxes on the sale in Brazil. You will have to pay taxes in the country of your origin if they have a capital gains tax on property.

It becomes much more complicated if you used Brazilian earned income to purchase the flat and in that case you really should seek the advice of an accountant specializing in taxes.

Cheers,
William James Woodward - Brazil Animator, Expat-blog Team

PolvanoMember15 June 2013 12:29:05

Hi William,

Thanks a lot for your reply. I did not use any income emanating from Brazil at the time of buying the flat, so I suppose I will only have to look into taxation in my home country.

Best regards and thanks again,

Michael.

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