Check List: Selling a property in Spain. Capital gains taxes

CHECK LIST selling a property in Spain. Capilat gains taxes
CHECK LIST selling a property in Spain. Capilat gains taxes

1.-Community fees.
Letter of the administrator.
Only when you live in a comunity of owners.

2.- Price and payment:
A certain amount that the buyer gives to the seller
as a signal.

3.- Selling fees:
There are fees related to the purchase negotiation.
Who pays?…
Municipal Taxes. Seller
Notary fees. negotatiable
Registration fees. negotatiable

4.-Energy efficiency certificate:
The notary will ask the seller for the energy efficiency certificate or a copy of it.

5.-Ibi Tax certificate for the last 5 years.
And also the vendor has to pay the Ibi of the current year.

6.-Cedula de habitabilidad:
There are Autonomous Communities that require the seller to deliver to the buyer a valid habitation certificate. It is very important in order to get the utility contracts for non urban properties.

7.-Verification of payment:
The notary will verify and record in writing how and when the house has been paid for.
8.-Only for non residents sellers:
Capital gains retention in the sales price of a dwelling, while the buyer is obliged to retain 3% of the declared purchasing price if the vendor is a non-resident.

In general, the gain will be determined as the difference between the transfer and acquisition values. Tax rate: 19%.

The person acquiring the property, resident or otherwise, is obliged to withhold and deposit with the Treasury 3% of the agreed price, this amount having for the seller the nature of payment on account of the corresponding tax for the income deriving from this transfer.

Therefore, the purchaser will deliver to the non-resident seller a copy of the form 211 with which he/she has made the withholding, so that the latter can deduct this amount from the amount to be paid resulting from the declaration of the gain. If the withheld amount is greater than the amount payable, the refund of the surplus can be obtained.

If the the taxes to be paid are substantially less than the sum retained, you have to submit an application form 210 to the Hacienda to have the difference returned. To calculate the acquisition value you can add the taxes that you paid for the purchase, solicitor fees, notary fees, registry fees and any structural reform always with the invoices.
Submission methods:
• on paper, generated as a result of printing the PDF form contained in the web portal of the Tax Agency.
• online, via Internet.
When the property is of shared ownership by a married couple in which both spouses are non-resident, only one self-assessment may be made.
Tax return period: three months from the end of the period which the purchaser of the property has for depositing the withholding (this period is, in turn, of one month from the date of the sale).

Exemption for reinvestment in habitual residence by taxpayers with residence in Spain ( EU, Iceland and Norway )
The capital gains obtained by the transfer of what has been their habitual residence in Spain may be excluded from taxation, provided that the total amount obtained through the transfer is reinvested in the purchase of a new habitual residence. When the reinvested amount is lower than the total of the amount received in the transfer, only the proportional part of the capital gain obtained corresponding to the reinvested amount will be excluded from taxation.

Contact us for specfic information, our work requires study of the corresponding documentation to give you the best legal advice. Available in Costa Blanca and inland.

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