Regulatory changes to legalise and constitutionalise the municipal capital gains tax came into effect on 10 November. The rule is not retroactive, so more taxpayers than the government expects are exempt from paying the tax. Now, the Directorate General of Taxes, part of the Ministry of Finance, has clarified the circumstances in which taxpayers must […]
Mortgage loans are not the only major expense involved in buying a home. In fact, in order to formalise the deal and become the owner of the property, there are many expenses and taxes to be faced. Between the valuation of the house, the notary, the registry and the corresponding taxes (VAT, ITP…), depending on […]
If you are buying a property in Spain from a person resident abroad, before going to the notary’s office, you should know that the taxes that correspond to the seller in this transfer, will have to be paid by you to the Public Treasury. For that reason you will have to withhold 3% of the […]
Following the setback of the Supreme Court ruling that annulled the model established to control tourist rental income, the Ministry of Finance is now finalizing a new system. It intends to introduce a new obligatory information declaration for all persons, entities and collaborative platforms such as Airbnb related to tourist rentals, through the Tobin Tax […]
Another very interesting ruling is given by the European High Court on 16 July 2020. In the judgment with joined cases C-224/19, C-259/19, it rules on the payment of mortgage costs (derived from the formalization of mortgage loans, such as notary, registration, agency, appraisal and taxes) arising from the declaration as abusive of a clause […]
When we decide to buy a property, the mortgage becomes an essential procedure in most cases. For which at least, we must have 20% of the capital saved, as mortgage lenders do not reach more than 90% of the appraisal value. One of the most important variables to determine the price of the mortgage of […]
The Plusvalia Tax, is the tax that is paid when a house is sold with profits, it is annulled, if the amount exceeds the profit by the sale of the good. The Constitutional Court has just declared the collection of this tax unconstitutional in those cases in which the amount payable by the taxpayer is […]
The market for second homes in Spain continues to grow this summer with a notable increase in both local and foreign demand. In this sense, 70% of second homes in Spain are located in coastal areas, both on the peninsular coast and in the archipelagos of the Balearic and Canary Islands. The areas of greatest […]
