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Could I ask as seem to get conflicting answers, I have residency and been resident 2 years, with a property purchased at the same time, I am now considering selling existing and purchasing another property, maybe new area, tax wise would the new purchase carry a large tax liability as per my initial purchase 10%, or as an existing resident the next purchase tax wise is lower. Thanks in advance.
Posted: Thu Jul 21, 2022 8:19pm
Legendary helpful member
Hi Daggers,
Spanish property transfer tax ("ITP") would also be payable on your new property. If your purchase is also in the C. Valenciana, ITP would be payable at 10% again. If you buy a new build, rather than resale, you will pay VAT ("IVA") instead of ITP, but that's also 10% in this region.
Kind regards,
Kim
Kimmy11 wrote on Thu Jul 21, 2022 8:19pm:
Hi Daggers,
Spanish property transfer tax ("ITP") would also be payable on your new property. If your purchase is also in the C. Valenciana, ITP would be payable at 10% again. If you buy a new build, rather than resale, you will pay VAT ("IVA") instead of ITP, but that's also 10% in this region....
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Kind regards,
Kim
Thanks Kim
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