Buying property all over the world is taxed. Spain is no exception, under the laws of this country taxes and duties are levied on buyers and sellers. All costs associated with the purchase must be considered. They can be paid from a personal bank account in Spain. The tax on the purchase of housing is paid in full within a month after the transaction of sale of real estate.
When buying a new building or secondary residential real estate, it must be borne in mind that it is necessary to pay an additional tax of 10% of the cost of housing. If you buy a commercial property, the tax will be higher. It is 21% of the total value prescribed in the deed of purchase.
When buying a plot of land with project documentation for construction, the tax burden will be 12%. If the land is sold without design documentation for construction, the tax will be 21%.
There is Plusvalia municipal tax paid by the seller. It is calculated, knowing the official estimate of the growth in the value of real estate during its sale. The amount of tax is determined by the local administration. It is directly dependent on the time of construction, location and period of ownership of the property owner.
The owner of a home or commercial property must annually pay income tax for foreigners, levied on the basis of the cadastral value. Payment is made in September and ranges from 0.26 to 0.48%, ranging from 200 to 250 euros.
Buying property all over the world is taxed. Spain is no exception, under the laws of this country taxes and duties are levied on buyers and sellers. All costs associated with the purchase must be considered. They can be paid from a personal bank account in Spain. The tax on the purchase of housing is paid in full within a month after the transaction of sale of real estate.
When buying a new building or secondary residential real estate, it must be borne in mind that it is necessary to pay an additional tax of 10% of the cost of housing. If you buy a commercial property, the tax will be higher. It is 21% of the total value prescribed in the deed of purchase.
When buying a plot of land with project documentation for construction, the tax burden will be 12%. If the land is sold without design documentation for construction, the tax will be 21%.
There is Plusvalia municipal tax paid by the seller. It is calculated, knowing the official estimate of the growth in the value of real estate during its sale. The amount of tax is determined by the local administration. It is directly dependent on the time of construction, location and period of ownership of the property owner.
The owner of a home or commercial property must annually pay income tax for foreigners, levied on the basis of the cadastral value. Payment is made in September and ranges from 0.26 to 0.48%, ranging from 200 to 250 euros.
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