Capital gains tax is due to be paid on the sale of a property. The tax is calculated on the difference between the value of the property at the time of its acquisition and the value at the time of its sale. For the tax rate applicable, please contact us.
If the vendor is a non-resident in Spain, the purchaser is required to retain 3% of the purchase price and pay it to the Tax Office Treasury on account of the potential liability to Capital Gains Tax. Your lawyer will inform you about existing exceptions. If you have no benefits on the sale, you can ask the Tax Office to refund this 3% retention.
Plusvalia: This is a Municipal tax paid on the increase in value of the land since the previous sale and is fixed by the local Tax Authorities. It is calculated according to the size of the property. Payment of this tax is, by law, to the account of vendor.
Real Estate commission.
Mortgage costs. If there is a mortgage on the property, you must take into account the bank costs for the cancellation of the mortgage and the notary and registry fees.