I HAVE ALREADY BOUGHT OR SOLD A HOUSE TO AN INDIVIDUAL. WHAT SHOULD I DO NOW?
In this post, we will review the taxes or fees that must be paid in a property sale.
First, the Tax on the Increase in Value of Urban Land (IIVTNU), also known as the municipal capital gains tax, is a tax that levies the increase in value of urban land at the time it is transferred. Depending on the transfer price, the capital gains tax will vary. You must present it within the next 30 business days from the sale of the property.
Second, the Transfer Tax (ITP). This tax is transferred to the Autonomous Communities, so it must be filed according to the regulations of each Community. Its percentage is around 10% of the sale price.
Lastly, and no less important, are the Notary and Property Registry fees.
However, these taxes are general. It is always advisable to consult a professional to ensure not only that all taxes are filed on time to avoid any future surprises but also that we have all the guarantees of having correctly completed the property sale (no encumbrances, no issues with the City Council…).
If you want us to help you with the purchase or sale of your property, do not hesitate to contact us. We will be happy to assist you.
R&MORENO ABOGADOS
C/ Ramón Gomez de la Serna, 22 Ofic 503
29600 MARBELLA – Málaga
Tfno. +34 658 813 200 – 951 469 361
info@rmorenoabogados.com