It's not just the new capital gains tax: this is all you have to pay if you sell

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Selling a home is not only about receiving money in exchange for what we sell, but there are also associated expenses. Among the main expenses we encounter are the taxes we have to pay, which are almost always a fairly considerable amount.

The taxes that must be paid when selling a home are the personal income tax (IRPF), the real estate tax (IBI) and the tax on the increase in urban land (IIVTNU – Municipal capital gains).

Personal income tax is paid on capital gains
Personal income tax is calculated based on the capital gain obtained from the sale of a home and must be paid in the income of the year following the sale. The capital gain is the economic benefit obtained from the sale of the home, that is, what they pay us more in reference to what it cost us to purchase.

When calculating personal income tax, the transfer value is also taken into account , which is the money that remains with the seller at the end of the sale transaction. To obtain this value, the taxes and exp  Uganda Email list  enses that are necessary to carry out the operation must be removed from the sale amount, such as the municipal capital gain, the real estate agency commission and the registration cancellation costs of the mortgage.



On the other hand, we must know the acquisition value , which is the money that the seller has paid to buy the home, plus taxes, the expenses that had to be disbursed from that purchase and what was invested to improve the home.

The following cases are exempt from personal income tax for the purchase of a home:

The home is the habitual residence and all the money has been reinvested in another habitual residence. If all the money is not reinvested, the portion that is not invested will have to pay the personal income tax corresponding to the capital gain.
The seller of the habitual residence is over years of age and should not pay personal income tax even if he or she does not reinvest in another habitual residence.
The home is delivered as payment in kind .
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The IBI is distributed proportionally between the seller and buyer of the home
The IBI is a municipal tax that is paid every year that you own the home for the fact that you own that home. It is up to the homeowner to pay it at the beginning of the year.

But there is a particularity when the case of the sale of the home occurs, since the amount of the IBI is distributed between the seller and the buyer in proportion to the time in which each of them has owned the home during the year. of the sale.

The distribution of the IBI payment can be agreed upon or included in the amount of the sale of the home, which may affect, although not to a large extent, the value of the transfer that is made for the home.