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Tax on capital transfers | Áurea Inmobiliaria – Real Estate Agency in Los Alcazares

Tax on capital transfers | Áurea Inmobiliaria – Real Estate Agency in Los Alcazares

WHAT IS THE TAX ON CAPITAL TRANSFERS?

Today we are going to talk about something that it is not very known because it isn’t very usual. We are talking about the tax on capital transfers, which is the tax that must be paid when a property is transferred. Where a second hand property is bought, the VAT is not paid but this tax.

Now we are going to try to clarify this tax:

  1. WHICH LAW DOES THIS TAX COME FROM?

The tax on capital transfers are is established by the Spanish Royal Legislative Decree 1/1993, on the 24th of September about the text about the Capital Transfers.

  1. HOW MUCH IS IT AND WHO MUST PAY THIS TAX?

The Spanish Autonomous Communities are the ones who must say the price of this tax, but it depends on the price of the property. These are the percentages to apply on the tax on capital transfers in Murcia area:

8% on property transfers.
4% on furnitures transfers as well as on oficial protection housing.
3% on transfers without VAT, on properties of large families or on properties for people under 35 years old.
2% on properties that have been given to Real Estate in order to buy a new build.
1% on warrant rights, pensions, deposits, credits or loans.

These percentages are applied to the tax base, which is the amount to calculate the tax. The tax on capital transfers is paid by the person who buys the property. There are 30 working days to pay the tax.

  1. WHERE MUST THIS TAX BE PAID?

The tax on capital transfers must be paid in the tax office of the Autonomous Community where the property belongs. It is necessary to present you NIE number as well as the deed or the original contract with a copy.

 

If you have any doubt about the tax on capital transfers, don’t hesitate to contact our real estate agency in Los Alcazares. We will help you to resolve any question you have.

SOURCES:

BOE

Guía práctica de impuestos: Ganancias y pérdidas patrimoniales

Fiscal Impuestos

Rankia

Comunidad Autónoma Región de Murcia

iabogado

 

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Áurea Inmobiliaria

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