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Cadastral Value or market value of the property?

The Spanish Tax Administration applies taxes on the property transmissions in accordance with a valuation method utilising the cadastral value of the property multiplied by coefficients.
It turns out that, according to art. 10 of the corresponding Law of Patrimonial Transmissions, the taxable base of the Tax is constituted by the market value of the property of the transferred good, but, according to art. 57.1 of the General Tax Law, the real value of the property transferred is determined by applying a multiplier coefficient to the assessed value of the property.

...continue reading "How can we calculate the transmission tax on a Spanish property?"

If you are a non-resident foreigner in Spain and do not know what taxes you have to pay when buying or selling your home, we help you to understand what taxes you have to pay. ...continue reading "What taxes does a foreigner have to pay to buy or sell their home in Spain?"

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The Supreme Court has just concluded the controversy in a ruling that is contrary to the theory that all liquidations and self-liquidations must be annulled, even in those cases where there has been a gain. ...continue reading "Taxes on selling Spanish Property: Plusvalia tax"

Often many distressed people moan how the taxation on holiday letting is convoluted and scares them off. Fortunately, that is lawyers and economist step in, simplifying matters.

Non-resident landlords can now benefit from generous tax relief which used to put aside exclusively for Spanish resident taxpayers. these new laws have had an outsize impact in taxation, considerably reducing non-resident landlord's tax bills. ...continue reading "Holiday Rental Taxation in Spain"

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After the scandal over the misleading sale of preferential shares in savings banks and the upcoming big payouts to homeowners for 'floor clause' interest rate overpayments, the next wave of mass financial lawsuits and possible refunds is ...continue reading "Big refunds could be on the way for home sellers over ‘wrong tax charge’"