Taxes

Obligatory taxes involved in a transaction

IVA (Value added tax ) the acquisition of new house is subject to 7% IVA and the independent purchase of a garage is subject to 16% IVA.   In cases where the contract is drawn up in relation to the acquisition of a house and a maximum of two garages at the same time then both items are taxed at 7% IVA. 

AJD (Documented legal transaction tax)

Upon signing the contract of sale  a levy of 0,5 or 1% dependent upon individual Community /Region, is made in respect of this tax.

Capital gain Municipal  (Imposed on the increase del value of urban land)

This tax known as capital gain is charged to the Seller.

Other Expenses

In addition to the aforementioned taxes, the deed contract of sale  involves the payment of:

Notary fees;

Land Registry fees;

Translation fees,  if a translator is needed;

Gestor fees, for the writing of the contract of sale, if this service is used.

 

 

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Guide to buying a HOUSE
 
The Arsenal has prepared this guide targeted at informing consumers who are interested in real estate purchases about their rights an obligations.

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