Transfer property tax in Spain
There is a wide range of taxes depending on the activity. Each real estate transaction, whether purchasing or selling a property in Spain is subject to different taxes and may include additional costs and expenses. These may be payable by the buyer orby the seller. You should have an idea of what expenses and taxes correspond to you, as at times a third party might interfere to reduce what their client ends up paying. This has happened in the past to estate agents, and unfortunately, they only find out that they have overpaid once the transaction is finished.
If you plan on buying a property in Spain you should become familiar with the property tax in Spain before completing your purchase/sale.
- Newly built or off-plan
Taxes payable: VAT &Stamp duty (IVA and AJD)
- Re-sales and second-hand properties
Taxes payable are transfer tax (ITP) and a non-resident retention tax.
In addition to this, you should consider other expenses such as notary and agent fees, as well as documentation charges.
Property tax in Spain differs greatly when purchasing or selling a property. We will try to make things easier for you by giving you a hint of property tax.
- Capital gains and liability
- Non-resident retention
- General maintenance tax (IBI)
If your activity in Spain was aimed at investment, then you will have some taxesto pay. While in Spain the tendencyhas been lower than in other European countries, business and investments have been encouraged in the last years.
As long as you are advised as to how to deal with the property tax in Spain, there should be no issues. Remember it is always advisable to seek consultation from a professional and have financial representation. If the taxation system is not taken seriously from the beginning, you may incur huge fines which can result in losing your assets in Spain. The Spanish Tax Agency can turn quickly if they believe that the corresponding taxes are not being paid, particularly in recent years where they are cracking down on tax avoidance.
Transfer property tax?
Why choose Carbray for your property tax advice in Spain?
Carbray offers many benefits to all customers who need help with their property tax in Spain, including over 20 years of experience, a dedicated English speaking team with a wealth of knowledge in law, competitive prices and a hands on approach making sure we always deliver results.
Carbray Lawyers have spent years, and solved numerous cases gaining the respect and trust of our clients. Whether it’s a business, an individual or any other case, Carbray will always help with your property tax in Spain.
Our dedicated team is proud to have many experienced lawyers from all around the world. Our team can speak many languages including Russian, English, Spanish, French and Italian to name a few
When managing your property tax in Spain, fees can often lead to more stress than desired. Here at Carbray, we offer flexible prices to suit all customers.
We know that managing your property tax in Spain can often lead to unforeseen worries, and unplanned difficulties, but Carbray will make sure to minimize these worries and get the results you want.
A few words of appreciation from a few happy clients
“Carbray helped me with the initial taxation processes throughout the purchase of my property in Spain.”
“Well, where do I start! Carbray provided magnificent tax planning support when it came to investing in Spain, I wouldn’t have been able to do it without them!”
“We were looking for the best option to transfer the deeds of our house in Barcelona to our grandson. Carbray gave us all of the information we needed, and the best way to manage proceedings making sure we saved (a lot of) money and time. To the team, thank you for your help!”