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Financial Points

Fees and Taxes

As an indication, taxes and disbursements with regards to the purchase of a property being:

  • Notary Fees. They are fixed by law depending on the sale price of the property. The notary’s fee scale is fixed by law.
  • Land Registry Fees. Costs are calculated as notary fees. Your lawyer would be responsible of this important detail.
  • In case of a re-sale ( existing property ) Transfer Tax will be applicable. This is a regional tax of 8% (<400.000 €) to 9% (400.000-700.000 €) to 10% (>700.000 €) of the purchase price.
  • In case of the purchase of a NEW property, offered by a promoter/developer, VAT (Spanish I.V.A) will be applicable. This is a national tax of 10% of the purchase price, plus 1.5% stamp duty.
  • Plusvalía Tax is a local tax calculated on the number of days that the land belonging to the property was in the hands of the vendor and the value of the same. By law this is to be paid by the vendor although the parties involved can decide the opposite.
  • Also there is a retention of 3% which will be given back when the seller shows no debt in Spain ( takes about 3 to 6 months ).

In accordance with Spanish law, the buyer is responsible for:

  • Transfer Tax when buying an existing property ( costs see above )  or VAT (10%)  + stamp duty ( 1.5%) when buying a new property.
  • Registration fees
  • Notary fees ( together with the Registration fee about 0,5% )
  • Legal fees ( 1% + 21% VAT ).

 

The Seller is responsible for:

  • Their own capital gains tax which is 19% of the gain.
  • Plus valía (calculated by the Townhall)
  • Legal Fees ( 1% + 21% VAT ).

In practice who pays what is negotiated with the final selling price and this must be stipulated, as well as listing the inventory to be included in the sale.  The professionals of Ascenso Marbella Real Estate will manage you through the whole process.