A. Taxes on the purchase of new housing
- Tax on the value added (VAT)
|Type of housing||IVA|
|– Housing public protection (VPP) and free housing||10% of the deed amount|
|– Housing of special regime (VPO RE) – Housing official protection of public promotion||4% of the deed amount|
* Annexes Applies to the squares of garage, with a maximum of two drives, and annexes that are transmitted together with the housing the same type of VAT than this. For other cases, 21% of VAT with regard to the deed amount will be applied. Attachments to houses business premises, are not considered although they are transmitted together with buildings or part thereof intended for housing.
- Tax Legal Documents (IAJD)
|Type of housing||IAJD|
|– Subsidized housing (VPO) and housing with public protection (VPP) who meet the characteristics of the VPO||Exempt|
|– Public protection housing (VPP) ≤ 90 m2 useful, not satisfying the requirements for the exemption||0.2% of the deed amount|
|– VPP • with surface > 90 m2 useful and free housing: • With deed amount ≤ €120.000||0.4% of the deed amount|
|• With > 120.000 ≤ deed amount €180.000||0.5% of the deed amount|
|Amount completed > €180.000||0.75% of the deed amount|
B. Taxes on the purchase of used housing
- Tax on patrimonial transmission (ITP)
|General||6% of the deed amount|
|Families, provided that: • It is the residence (subject to personal income tax) of the owner of the large family of the owner of the House. • In the event that the previous residence was one of the owners of the large family-owned, this is sold within the period of two years preceding or following the purchase of the new residence. This requirement will not be payable when purchased a building adjacent to the residence to attach to this, forming a unique home of greater surface area.||4% of the deed|
C. Other expenses associated with the purchase of a home When the acquisition of housing, (whether new or used), is carried out by means of a mortgage loan, also has to pay the tax on documented legal acts (IAJD) by the Constitution of this loan. This tax is not paid in the event that buyer is subrogated to the loan of the promoter. To buy a home there to add other expenses as costs of appraisal, notary and registration fees, as well as the costs of management, in his case.
- Taxable capital transfer: it has a tax rate of 1% and is taxed when you request a mortgage loan to finance the purchase of a new or used housing.
- Tax on the increase of value of land in urban nature (capital gains tax): is a municipal tax levied the increase in value undergone on the grounds of urban nature from your purchase and up to the time of the sale. Capital gains will in charge of the seller in case of sale and purchase (a recent ruling of the Supreme Court has ratified that the promoter of new homes cannot load the appreciation on the buyer). In the case of transmission of housing by inheritance or donation, the taxable person is who acquires the property.
- Taxable income results from multiplying the cadastral value of the land at the time of transmission by the years that the seller has been owner (with a maximum of 20 years) and by a percentage that should determine each City Council, while it does not exceed the following limits: 3.7% for a period of 1 to 5 years; 3.5% for up to 10 years; 3.2% for a period of up to 15 years and 3% by a period of up to 20 years.
- The result is charged a rate of duty that apply councils can exceed 30%. Does not generate capital gains when the property has been less than a year. Similarly, when the period of ownership is more than 20 years, apply 3%.
- Must be paid within the period of 30 days from the date of transmission of the property, except in case of inheritance, which is six months from the date of death (extendable to one year if so requested in writing within the first six months).
- Tax on real estate (IBI): is a municipal tax levied the value of nature rustic and urban buildings located in the respective municipalities and the law provides that it is to pay to the owner of the property in date 1 January. IBI is paid each year and its tax rate ranges from 0.4% to 1.10% depending on the municipality, although the majority of municipalities apply the maximum. These types can increase much as 0.07% in certain cases, for example if the municipality is capital of province or autonomous community, if it provides service of urban collective transport of surface…