Spain Real Estate News
Some doubts regarding the declaration of a property sale may arise when settling accounts with the Treasury. Knowing whether or not the operation is subject to taxation, whether we must declare in the event of losses or how to do so are essential questions we should know and that we will try to resolve below.
...continue reading "How to Declare the Sale of a Home in the 2024 Income Tax Return"
Acquiring a home in Spain entails a whole series of expenses beyond the sale price. It is worth considering them because these expenses may represent around 10 – 12% above the property price. Specifically, the highest of these costs are taxes.
...continue reading "Taxes Involved in Buying a Home in Spain: Practical Guide"
Buying a house in Spain implies different procedures and taxes, which means expenses. Knowing all the costs of purchasing a home will be fundamental because they affect the total outlay of acquiring the property.
...continue reading "Costs of Buying a Home in Spain: an Essential Guide for Foreign Buyers"
The decision of the Andalusian government will have a significant impact on those who buy a home before December 31, 2021, the end date of the measure. We must consider that the Tax on Patrimonial Transmissions and Documented Legal Actions is the most outstanding tribute that buyers of second-hand property must pay.
In Andalusia, this tax levied between 8% and 10% according to the property's value. Nevertheless, since the end of April, the Tax on Patrimonial Transmissions has become a single general rate of 7%. Meanwhile, that of Documented Legal Actions, which is satisfied when formalizing the public deed of sale, goes from 1.5% to 1.2%.
...continue reading "Andalusia reduces the Tax on Patrimonial Transmissions and Documented Legal Actions"
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?"