I Want To Build A Property In Crete, I Live In London, If I Was To Make A Profit On Sale, Would I Pay Tax?

18. Feb, 2010 3 Comments

i work and live in london, which means i pay tax here, i want to know if i was to build and sell a property in Crete or Bulgeria would i pay capital gains tax there in that country and then bring the money here in London, would i then be taxed here. What would be the tax in Crete and Bulgaria, if any.
thanks
Chris

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3 Responses to “I Want To Build A Property In Crete, I Live In London, If I Was To Make A Profit On Sale, Would I Pay Tax?”

  1. Nani 18. Feb, 2010 at 9:04 am

    yes you would pay property tax.

  2. Krishna 18. Feb, 2010 at 9:08 am

    If you live in the UK you will be liable for Capital gains tax in the UK. If you live in Bulgaria then you will pay the tax applicable there.
    If you live 6 months in Bulgaria and 6 months in the UK you decide where you pay all of your tax liability. One or the other.

  3. chris p 18. Feb, 2010 at 9:43 am

    I don’t know how it is in Europe, but I sure hope some entity would tax you on the deal. We can’t expect countries to run their governments without some tax!

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