Transfer Tax Update 2013
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Thank you again to Juan Carlos Marhuenda at TLA Corp lawyers for producing this article for our clients regarding the update in the transfer tax in August 2013. For further information on all tax and legal aspects please visit their website at www.tlacorp.es

 

On the 2 - INHERITANCE TAX

WE ARE COMENTING IN THIS ARTICLE THE MAIN ASPECTS AFFECTING PURCHASE/SALES

VAT on NEW PROPERTIES (properties acquired directly from builders), from 8% up to  This modification, initially,  was not affecting RESALES (properties acquired from a particular), which are not subjected to VAT. Resales are taxed with another tax called “Transfer Tax” (Impuesto sobre Transmisiones Patrimoniales)  . So, resales, in Valencia region was at 8 %, also in other regions as in Murcia.

nd of August 2013,  buyers will pay the 10 % on properties based in Valencia Region (Alicante, Valencia, Castellon), and in Catalonia (Barcelona, Lérida, Tarragona, Gerona).

Stamp Duty,  has been increased up to  - In New Properties, together with 10 % VAT

- When there is an update of the deeds declaring a new construction, or extension, etc.

- ACQUISITION OF NEW PROPERTIES in Spain (Valencia, Catalonia, Murcia, Andalusia), pays 10 % VAT + 1,5 % Stamp duty.

- In Catalonia+Valencia Region: Pays 10 % Transfer Tax

- UPDATE OF DEEDS in Murcia, Valencia, and Catalonia: 1,5 % Stamp Duty

 

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