The ultimate value of a property depends on many factors and consists of:
1. The most amount that the seller wants. It includes and his desire to make a profit, and service agencies, and taxes, which he will have to pay. This amount you can see on the price tag, it is obvious.
2. The amount of money you have to spend on the design. This is a lawyer and a notary.
3. It taxes on purchases. At high cost of real estate, the amount of this tax can be impressive.
4. Finally, it is possible debt, which is for the property. Non-payment of electricity, water ... It is very important to check the payment of all services on the day of sale.
In this article we will talk about taxes, which relate to real estate, such as those that are paid at acquisition of a, sale and operation of residential and commercial properties.
These taxes are in principle the same as for the Spaniards.
1.1. Buying a home in the secondary market. When buying a new home is not paid only one tax - "property transfer tax" (Impuesto sobre Transmisiones Patrimoniales abbreviated ITP). Its value is 10% of the amount, which is indicated in the main document of sale (Escritura).
1.2. Purchase of new housing, which is in the primary settling (Primera Ocupacion). In this case, paid:
- Value Added Tax (Impuesto sobre Valor añadido - IVA). Its value is 10% of the value that appears in the documents.
- Taxes on notarial deeds (Impuesto sobre Actos Jurídicos Documentados - AJD). The value of which 1.5% of the price displayed in the act.
1.3. Buying real estate commercial use. Taxation is the same as in the case of residential real estate, but with different tax rates:
- When buying on the secondary market from an individual to pay tax on transfer of property ITP is the same as when buying real estate - 10%;
- If the commercial property is purchased from jur. Person, regardless of whether secondary or building, pay the same - 21% of the scrip deal. Tax on transfer of ownership ITP - in the secondary market, or value added tax IVA for new buildings;
- Taxes on notarization AJD in the amount of 1.5% of the price specified in the act.
In the case of buying residential or commercial property loans (mortgage) the bank is preparing for the client an additional agreement (Escritura Hipotecaria), which is also a legal document. Thus, the buyer is obliged to pay tax on the AJD again, that is, to pay a tax credit for the design of the property. He is 1%, but in this case from the amount provided in the mortgage.
Taxes listed above must be paid within 30 days from the date of signing of the act.
2. The annual property taxes.
As well as the Spaniards and citizens of other countries, owning real estate in Spain, are required to pay regular (once a year) taxes, two levels: municipal (in favor of the city to which the object of taxation) and national (national).
2.1. A city tax. The so-called Impuesto Sobre Bienes Inmuebles or abbreviated IBI. This is a tax on the cadastral value of property. Municipal tax rate varies from 0.4% to 1.1%, and it is set by the authorities of the municipality (Ayuntamiento). The cost of land currently several times lower than the market. For example, for the house at the price of 250,000 euros IBI may be about 300 - 450 euros. This tax is paid once a year, usually in July - August. The mayor's office received a letter with the details and terms of payment. It is important not to defer tax payment deadlines, or have to go for new details. Not for payment, can count a penalty. For municipal payments related to the property should also be attributed, and pay for garbage removal. Typically, these two payments (tax and garbage) come together.
2.2. National tax. Consider only option taxation of foreign citizens who own property in Spain, but do not have a residence permit, and no income here. In this situation, you need to pay an annual fee for non-residents, which is called Impuesto Sobre Renta de no Residentes, abbreviated - IRNR. The basis for the calculation of the cadastral value of the property, as well as the installed base tax of 2% or 1.1% of its value. 2% is applied in those municipalities where the cadastral value of the object have not been updated in the direction of increasing since 1994, and 1.1% is applied in municipalities where the cadastral value after 1994 has been increased. The tax rate is the same for all municipalities, and is equal to 24% of the tax base.
1.Tax on the transfer of immovable property.
This tax depends on whether the seller is a resident or not.
2.Tax on surplus value.
This tax does not depend on the residence of the seller. Tax on surplus value - is council tax, which is calculated based on the increase in value of the land from the date of purchase, adjusted for inflation. This tax is calculated Municipality.
Status Marbella provides services to his lawyer, who will calculate how much the customer must pay in taxes from the sale of their property.
If you are not a resident of Spain, you have to keep 3% of the value of the property being sold at the expense of a possible increase in property value. There were cases when after the sale, the seller disappeared with the money without paying tax. This amount is held by the buyer or his lawyer, because the buyer is liable for this tax. Tax on the increase in value of the property for non-residents from January 2013 is 21%. The amount at which the tax is charged, it is - the difference between the sale price and the purchase price, less any costs for improvements to housing, because if you make improvements and alterations, the store checks, perhaps in the future it is useful to you. If the increase in the cost of housing is less than 3%, you have to claim back the difference through his lawyer. If this difference is higher - the seller is obliged to pay the difference in the tax authorities.
If you are a resident of Spain, no deduction is not performed. But you have to include the profits (increased value of the property) in its income tax return for the following year (income tax for individuals).
Investing in real estate has always been considered the most stable and profitable. Until recently, the price of the crisis in Spain, houses and apartments grew faster pace. Marbella house prices fell significantly less than in the whole of Spain. And recent studies show that there is a tendency to increase them. If you drive on an elite residential area of Marbella, you will see that revived construction, which was frozen for the duration of the crisis. Investors felt the bottom, again began to invest in the acquisition and construction of residential complexes.
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