This change is proposed as part of the 2027 budget and tax policy draft developed by the Ministry of Finance. The document has been released for public consultation.
As a reminder, currently, capital gains derived from the sale, exchange, or other form of disposal of a primary residence are fully exempt from income tax. However, the property must meet certain requirements (such as having been occupied for at least three years, among others).
The proposed amendments also provide for a change in the procedure for determining the cost basis of capital assets.
In this regard, it is proposed to repeal the current provision under which 50% of the capital gain is taxed in cases involving non-primary residences. Starting in 2027, such capital gains will be taxed at a rate of 15% of the excess amount.
It is also clarified that property received by individuals as a gift from first-degree relatives and spouses is not subject to taxation.
When a gift agreement is concluded between spouses, the tax basis of the property upon its subsequent disposal will be determined based on its tax basis at the time of the gift.
