What amount is taxed when selling a property?

What amount is taxed when selling a property?

Question:
Hello!

My father donated an apartment to me, purchased this year - new, furnished.
A month after the donation, I sold it to another person.
My question is 10% profit tax on which amount should I declare - on the full amount, which is according to the notarial deed, or on the difference from the amount minus the tax assessment of the property?
The tax assessment is 30,000 euros, it was sold for 70,000 euros. On which amount do I owe 10% - 70,000 euros or 40,000 euros?
Thanks in advance!

Answer:
Hello,
The sales price, which is described in the notarial deed and, accordingly, which you received upon sale, is considered to determine the tax due.
If the notarial deed states that the sales price is 70K euros, then you owe tax on this amount. There is a practice for a given property to be determined by one amount, but in the notarial deed itself a smaller amount is recorded as the sales price. Any taxes are due based on the amount recorded in the notarial deed itself as the sales price.
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