Acquisition of real estate around the world is taxed. Under the laws of this country taxes and fees are collected from buyers and sellers. All costs associated with the purchase, must be considered. Their payment may be made to the personal bank account in Spain.
Tax on the purchase of property paid in full within one month after the transaction of purchase and sale of real estate.
Taxes in Spain
If you buy a commercial property, the tax will be higher. It is 21% of the total cost, stated on the bill.
Buying a new building or a secondary residential real estate, You have to bear on mind that you must pay an additional tax of 10% of the cost of housing.
When buying a piece of land to the project documentation for the construction of the tax burden will be 12%. If the land is sold without the project documentation for the construction, the tax will be 21%.
There is a municipal tax ''Plusvalia'' paid by the seller. It is calculated, knowing the official estimate of growth in property values during its sale. The tax amount is determined by the local administration. It is in direct proportion to the time of construction, location and period of ownership of the facility owner real estate.
Homeowners or commercial facility shall pay annually, income tax for foreigners levied on the basis of the cadastral value. Payment is made in September and ranges from 0.26 to 0.48%, from 200 to 250 euro.