PLUSVALIA MUNICIPAL: (Impuesto sobre el Incremento de Valor de los Terrenos de Naturaleza Urbana)):
It is a municipal tax calculated by the property registry office based on land where the property is built and for how many years the sellers have owned the property.
CAPITAL GAIN:
it is approximately 20% tax on the difference between the sale and purchase price, considering some revaluation coefficients of the purchase price.
IBI (Impuesto de Bienes Inmuebles):
the cost of the IBI of the year in which the property is sold is usually shared between the buyer and the seller in proportional parts according to the month in which the deed of sale is signed.
PLUSVALIA MUNICIPAL: (Impuesto sobre el Incremento de Valor de los Terrenos de Naturaleza Urbana)):
In the case of the seller who is not tax resident in Spain, the PLUSVALIA MUNICIPAL is deducted from the sale price and subsequently paid by the buyer.
CAPITAL GAIN:
When the seller is not a resident in Spanish territory, to guarantee the collection of the tax (Capital Gain), the law provides that the buyer withholds 3% of the sale price and makes the payment of this amount to the State Revenue Agency. This 3% is deducted at the time of formalization of the checks that the buyer delivers to the seller at the notary’s office at the time of signing the deed of sale.
IBI (Impuesto de Bienes Inmuebles):
the cost of the IBI of the year in which the property is sold is usually shared between the buyer and the seller in proportional parts according to the month in which the deed of sale is signed.