Finance & Taxes

When buying or selling a property in Spain, questions often arise about municipal taxes, particularly the IBI (Impuesto sobre Bienes Inmuebles, property tax) and the basura (waste collection tax). Who is actually responsible for paying these taxes when a property changes hands?

Anyone who lives, works, invests or owns property in Spain increasingly has to deal with digital government services. Taxes, social security and many administrative procedures are now handled almost entirely online. In all these cases, you need some form of digital identification or electronic signature.

Until the end of 2021, the purchase of existing property in Spain was subject to 10% registration (notarial transfer tax) or ITP. As of 1 January 2022, there will be a change in the calculation of transfer taxes. The cadastral reference values will now also be taken into account. We have summarised the new rules for you below:

Do you have assets in Spain but do not live there permanently? Then it is important to know how Spanish wealth tax works for non-residents. In this blog, we explain clearly when you have to pay tax, what exactly is taxed and what exemptions there are.

5 IMPORTANT REQUIREMENTS YOU NEED TO KNOW ABOUT THE SPANISH MORTGAGE APPLICATION PROCESS

A death always creates a lot of paperwork, especially if the deceased had a foreign account. Besides the grief, there is a lot of hassle involved. Below, we give you an overview of the steps to follow if this happens to you:

The time has come, the decision to buy a (second) home in Spain is a fact, or maybe you've already found 'the home'!

Do you choose to buy with or without inventory? When buying a house in Spain, you are usually given the choice of whether you want to buy the property with or without the existing inventory and whether this is included in the sale price or whether you will pay for it separately. After all, most properties on the Spanish Coasts are second or holiday homes and when these are sold, in many cases the sellers have little to no interest in moving the furniture to their own country (where they usually

Municipal taxes are local taxes collected by municipalities to cover the cost of their administration and public services. There are different types of municipal taxes, both compulsory and the optional ones. Who are the taxpayers and when do they have to be paid? Moreover, municipalities have some degree of freedom to set different taxes within the limits of national regulations and these taxes can be paid by both individuals and legal entities, depending on the situation. To get a clearer under

In the context of home renovation and repair in Spain, the applicable VAT rate varies. While the general rate is 21%, a reduced rate of 10% can be applied under certain conditions. In this blog, we provide you with insights on the conditions you need to meet to save on VAT.

Depending on the region, payments can be made through foreign bank accounts, but regular Spanish companies and some utility companies do not all accept direct debit from a foreign bank account. Incidentally, with the introduction of the IBAN bank account number, this is less of an issue. With a so-called ‘certificado del banco’ (=bank letter drawn up in English or Spanish, showing the IBAN number and corresponding account holder(s)), most companies will accept a direct debit. However, sometimes

When you are looking for real estate in Spain, it is obviously important to know what costs are associated with this purchase. In addition to one-time purchase costs, you should also consider costs that recur periodically (predominantly annually). We list the most important ones for you.