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Unregistered
05-07-2010, 09:40 AM
Is it true that from 1st July it goes up from 7 to 8%? Is it for both new and second hand properties?

Thank you

Lawbird Lawyer
05-07-2010, 10:31 AM
Dear Sir or Madam,

I'm sorry, I'm unaware of this general change in Transfer Tax applicable to re-sale property other than (for Andalucía region only) increasing it to 8% on real estate on the part of the value exceeding €400,000 as from the 19th March 2010.

What I do know is that Value Added Tax (VAT) applied to off-the-plan property will be raised from 7% to 8% as from the 1st of July 2010.

Something which I personally criticised vicioulsy in my blog post because of its awful bad timing.-

Spanish Government to Raise Taxes (http://belegal.com/wordpress/spanish-government-to-raise-taxes/) - 28th September 2009

Yours faithfully,
Raymundo Larraín Nesbitt