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Purchase Tax Remains at 4%
Thursday, 12 January 2012 11:10

euro_banknotes_coinsIn the New Year the Spanish Government has announced that they will maintain the reduced 4% VAT rate on the sale of new and key ready homes to further assist investment into the region.  We have been able to confirm this positive news with our legal department and with the Spanish tax authorities.

This means that properties which are bought directly from the developer, either off plan or a physical property which the developer has built and not yet sold are subject to 4% tax (equivalent to Stamp Duty).  This will apply to some properties available through banks and financial institutes in Spain but not all.  If the property is currently owned by an individual then the transfer tax will be at the rate normal of 7%.  Prior to the Governments announcement the tax on new properties was 8%.
 

Murcia Villas SL for themselves and for the owner of the property whose agents they are give notice that:- (1) These particulars do not constitute any part of an offer or a contract. (2) All statements contained in these particulars are made without responsibility on the part of Murcia Villas SL. (3) None of the statements contained in these particulars are to be relied upon as a statement or representation of fact. (4) Any intending purchaser must satisfy himself/herself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. (5) The owner does not make or give and neither do Murcia Villas SL nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to this property. (6) Where every attempt has been made to ensure the accuracy of the details contained here, measurements of doors, windows, rooms and any other items are approximate and no responsibility is taken for any error, omission, or mis-statement. These details are for illustrative purposes only and should be used as such by any prospective purchaser. The services, systems and appliances shown have not been tested and no guarantee as to their operability or efficiency can be given. (7) Prices are quoted in euros, working with a conversion rate of 1.10 euros to the pound, discrepancies may occur in prices for holiday accommodation due to currency fluctuations.