The Spanish 2010 Budget Law includes a rise of VAT rates, that applies from June 2010, from 16 to 18 per cent for the general VAT rate, and 7 to 8 per cent for the reduced VAT rate from the next July 1st. The super-reduced...
Yes, you can. Private contracts, as opposed to public contracts (the ones signed in front of Notaries) also have validity and completion force in what refers to any permissible condition they include and are perfectly binding for you and your seller. However, according to the Spanish...
(Google translation from Noticias Vlex.com) The Congress of Deputies validated by a majority a number of fiscal stimulus initiatives aimed at the home rehabilitation sector that were included in the Royal Decree on Measures to Promote Economic Recovery and Employment, approved on Friday April 9 by...
The transfer tax, or Impuesto de Transmisiones Patrimoniales (ITP), applicable to private real estate property sales, is for the time being in Andalucía a 7% of the value declared in the contract for private sales. However, as from March 19th, 2010 the tax has been...
Concerning to the Income tax of Individuals, the percentages of general tax scale stay the same but the rate applicable to savings in personal income tax has increased. The applicable rate will be 19% for the first 6,000 Euros of yield, and 21% on the...
The Spanish Council of Ministers adopted a Royal Decree to complete the transposition of Community directives known as 'VAT package' referred to in the new system of 'one-stop shop' to enable the return of VAT quotas to European businessmen, announced the Executive in a note....
No, you will not, I am afraid. From January 20, 2006 there is no exemption from capital gains tax for property sellers. Those long-term proprietors who bought before 1986 had privileges of reduction which reduced their tax to zero after 10 years. At the present,...
As becoming a resident in Spain makes that you are tax-liable for any worldwide income, first of all it depends on whether you have income earnings from other country than Spain and whether or not your non-Spanish income is taxed at the country of origin...
New Coefficients to update the acquisition value of Spanish Real Estate assets. For the transfers of real estate (not linked to economic activities) that take place during year 2010, the coefficients of update of the value of acquisition of such assets will be the following...
Non-resident individuals owning real estate properties in Andalucía, Spain, have the obligation to declare and pay the following taxes every year: Land Rate tax (or I.B.I. ) , yearly payable to the municipality. It is based on the valor catastral (officially rated value) of each property...