bea11
New Member
Posts: 8 
|
Post by bea11 on Jul 27, 2010 7:16:38 GMT 1
Can anyone outline the implications of selling abroad please?
My understanding is that CGT in UK is now 28% but I'm not sure what the Cro Tax Office will take from us Can we deduct improvement costs of eg pool/kitchen etc from our liability
Also a rough idea of selling costs would be helpful (I know our agency fees but am not sure re solicitors costs or anything else we may need to consider)
Many Thanks!
|
|
|
|
Post by mambo on Jul 27, 2010 11:38:01 GMT 1
What are you selling ?
Basically as a Croatian company you don't charge tax abroad. The importer of your product will have to pay the tax, since you are not allowed to sell to customers as a Croatian company.
If you mean that you rent out your Croatian apartment to foreigners then you charge them the Croatian tax. Whether or not you find your customers abroad does not matter, in the end they come here and pay you for an apartment which is in Croatia.
So renting out a Croatian apartment in England does not mean you have to charge British tax. You still have to charge Croatian tax and pay that tax in Croatia. Unless of course you move the whole apartment to England..............but then it is no longer a Croatian apartment, it has become a British apartment.
|
|
|
|
Post by cropal on Jul 27, 2010 14:06:42 GMT 1
Hi bea11, I read your question a little differently to Mambo so apologies if I'm wrong, I understood that you are looking to sell your property in Croatia, if so ....
If you own in the property in your own name - CGT in Croatia is charged if property is sold within 3 years of taking ownership, CGT is 35%. For properties owned longer than 3 years no CGT is charged. It is unclear whether that 3 year period starts from the day you purchase or from the day you receive approval from the ministry. You cannot write off the cost of improvements for a privately owned home.
If you own the property through a company - there is no CGT however there is a 20% corporate profit tax. You can write off the cost of improvements for a house owned through a company, if the invoices are correctly issued in the name of the company with the correct company reference number etc. (was MB, now OIB)
|
|
bea11
New Member
Posts: 8
|
Post by bea11 on Jul 27, 2010 14:43:27 GMT 1
Sorry - I meant I am selling a property
Thanks for the info - another question you may be able to answer - I am trying to locate the original building permit for our house (I know it has one just can't find my copy) Can I trace it back through the Planning Office (Buje) and if so how do I find the address (can't get any info from Google etc)
Thanks again
|
|
|
|
Post by mambo on Jul 27, 2010 15:23:33 GMT 1
Indeed I understood the question incorrectly, my apologies, but am happy Crojoe did understand it correctly and was able to help you with the information.
|
|
|
|
Post by crojoe on Jul 27, 2010 17:30:58 GMT 1
Mambo, credit Cropal, not me for the words of wisdom. But, I do have some news, which I'll post under ... "company owners to become employees".
|
|
|
|
Post by mambo on Jul 27, 2010 21:09:59 GMT 1
Oops, again sorry, this time to Cropal.
|
|
