What TAXES and associated costs must be paid on an ONGOING basis to keep a property in Sotogrande.
What TAXES and associated costs must be paid when SELLING a property in Sotogrande, Spain.
What TAXES and associated costs must be paid when BUYING a property in Sotogrande, Spain.
The Real Estate sector could begin to grow and become an interesting asset class for both homeowners and investors...
Plusvalía municipal (Municipal capital gains) is a local tax payable to your local town hall upon the sale of your property.
Capital Gains Tax (CGT) is applied to stocks, property, government bonds, and any other assets and investments once you sell, and of course as long as you have made a profit. There is a difference in the rate of tax, depending on if you are a tax resident of Spain...
The Junta de Andalucía has now passed into law the lowering the ITP tax (ITP is the tax paid by the buyer when buying a property). This means that BIG SAVINGS will be made by buyers purchasing resale properties where ITP is the due tax!!! Learn some examples..
As of today 29th April 2021 the rates of ITP have been reduced in Andalucía. Bottom line you will pay less property tax when you buy a resale property between now and the end of the year.
Questions and Answers in regard Great Britain citizens post Brexit. Charles Gubbins interviewed Magdalena Marín García from Triay & Triay Lawyers Spain to clarify some of the most asked questions by clients and colleagues on this topic.
In April 2019, the inheritance and gift tax was practically abolished for Andalusia, with other words the tax amount is now so small that it is no longer worth mentioning.
It is important to acknowledge that no one is exempt from paying the tax concerning the municipal capital gain, unless the transfer was made at a loss.
Senior Andalusian politicians agreed to significantly reduce Spanish Inheritance Tax (IHT) in the autonomous region of Andalusia.