Yes I do actually,

There is currently no CGT in Cambodia but it will soon be introduced at 20%. Total transaction costs in Cambodia are 3.6 - 6.5%.

CGT in the Philippines is 25% and rountrip transaction costs are between 16.2% - 23.75%.

Based on that you would think Cambodia is best, but property in the Philippines in about half the price of Cambodia so roundtrip transactions wouldn't be all that much more in real terms. As it is so early in the Philippines emergence the potential for gains is immense so even after paying CGT you'd still be left with a tidy profit.

For instance and I'm willing to go on the record again here, buy one of our Atrium apartments for £27000, sell it for 45-50 thousand in three years, and be left with 11-15 thousand in profit.

The gain would be as much after 2-3 years in Cambodia but the profit margin would be higher becuase of the lower total transaction costs and CGT. But the truth is, the real benefit of the Philippines in the price, it offers an entry level chance to get in on Asia's growth potential. You won't get a property cheaper anywhere in Asia that has similar potential for growth.

The Philippines are very interesting.
One issue: Is the CGT in the Philippines 25% of the profit or of the total selling price ?
Is there Double taxation between Ireland & UK with this area also.

As far as I know it is 25% of the gain.

About the double taxation I am not too sure, I have never done any kind of research into this as yet. If you are doing property investment as a business or as your main source of income, or are otherwise self-employed then I would think the money you get from the sale, after you have paid all taxes including CGT and lawyers fees etc, would have to be included in your income. Just as you would put the outgoing cost of the property + taxes and lawyers fees into your expenditures. In that respect I suppose it balances itself out.

I'm not sure how it works if it is a one-off investment or sale, from people in full time employment, but as you have no way of declaring the outgoing cost, then I don't suppose you would declare the income from the sale either -- feel free to correct me if I'm wrong.

Liam Bailey
davidstanleyredfern[dot]com

Apparently there are more than 1,300 double taxation treaties world-wide and the UK has the largest network of treaties, covering over 100 countries.

Antigua and Barbuda, Argentina, Argentina, Austria, Azerbaijan, Bangladesh , Barbados, Belarus, Belgium, Belize, Bolivia, Bosnia-Herzegovina, Botswana, Brunei, Bulgaria, Canada, Chile, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Falkland Islands, Faroes, Fiji, Finland, France, Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guernsey, Guyana, Hungary, Iceland, India, Indonesia, Ireland (Republic of ), Isle of Man, Israel, Italy, Ivory Coast (Côte d'Ivoire), Jamaica, Japan, Jersey, Jordan, Kazakhstan, Kenya, Kiribati, Korea (Republic of), Kuwait, Latvia, Lesotho, Lithuania, Luxembourg, Macedonia, Malawi, Malaysia, Malta, Mauritius, Mexico, Mongolia, Montenegro, Montserrat, Morocco, Myanmar (Burma), Namibia, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Papua New Guinea , Philippines, Poland, Portugal, Romania, Russian Federation, St Kitts and Nevis, Serbia, Sierra Leone, Singapore, Slovak Republic (Slovakia), Slovenia , Solomon Islands, South Africa, Spain, Sri Lanka, Sudan, Swaziland, Sweden, Switzerland, Taiwan, Tajikistan
, Thailand , Trinidad and Tobago, Tunisia, Turkey, Turkmenistan , Tuvalu, Uganda, Ukraine, United States of America, Uzbekistan, Venezuela, Vietnam , Yugoslavia (Federal Republic), Zambia, Zimbabwe.

Ireland has double taxation treaties withe the following:
Australia, Austria, Belgium, Bulgaria, Canada, Chile, China, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, India, Israel, Italy, Japan, Korea, Latvia, Lithuania, Luxembourg, Malaysia, Mexico, Netherlands, New Zealand, Norway, Pakistan, Poland, Portugal, Portugal, Romania, Russia, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Switzerland, United Kingdom ,United Kingdom Protocol, United States, United States Protocol, United States Competent Authority Agreement, Zambia

All the details for individual countries can be found on official government revenue site.

Liam,

I dont understand what you mean about not declaring income from the sale or the rents etc.

ALL individuals making ANY profit from property (or land or interest in bank accounts or breathing!!) in ANY country MUST be reported to the relevant governments Inland Revenue equivalent. In some countries you have to report losses too.

It is your responsibiity to get hold of the correct governement department, fill in the forms etc, you may need an accountant or translator to assist.

The (foreign) government then tells you how much tax you need to pay and you pay it.

You then fill in the details again on your UK self assessment form. If there is a treaty you can deduct tax that you have already paid to the foreign government. If there is not a treaty you will have to pay all the UK tax without deductions.

So many agents highlight lower CGT income tax etc as selling points for various countrues, but unless I'm missing something it doesnt matter - as you always pay full UK tax anyway.

Another thing to look for is repatriation of profits ie are you allowed to take the profits out of the country?

Thank you for clarifying that point for all.

Well Kim totally disgusted by your comments.
I am from Bolton yes I have tattoos, but I also have 5 properties in 4 countries and 3 buisnesses in 2 countries.
Far from thick and been investing in properties for 11years and I am 34!!

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Martin
www.hurghadatouristguide.com
http://www.totallyproperty.com/egypt...-services.html

this is a property forum . lets keep it free from comments that may offend people..

I agree totally, out of order imagine the issues if it was a racist comment i am proud of where i come from.

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Martin
www.hurghadatouristguide.com
http://www.totallyproperty.com/egypt...-services.html

The coastline from Mexico to Costa Rica has tons of small towns that are now booming to be the next Puerto Vallarta and Manzanillo. This happening right now, I am living in the middle of it all and I can tell you the Costalegre areas are going to be hot, developement everywhere and tons of lots going for great prices for the size, location and quality.