The rate of property sales tax will increase in the New Year in some cases as much as 50 percent. The Spanish tax authorities have given the green light to councils to raise the rate of tax in some circumstances from January 1, 2023.
Property sales tax could rise by as much as 50 percent in Spain
New rates come into force in New Year
Also in News
- Britons cash in on the outgoing Golden Visa in Spain to beat the 90 day rule
- After a holiday in Mallorca Richard Gere moves to Spain
- Laura Hamilton: “I’ve always loved Mallorca, I just wished I’d bought here earlier...”
- Russian-owned Black Pearl in Mallorca
- Noel Gallagher sold his Ibiza home because of his neighbour - James Blunt
5 comments
To be able to write a comment, you have to be registered and logged in
Ulla JacksonGovernments and coherent thought, Now that is an interesting observation Ulla. I don’t see that process in any western governments at the moment. More desperate and grasping. The Keynesian limit has been reached and the never ending taxation driven by unsustainable government spending is tipped certainly the U.K. and other economies.
It's no surprise really, EU bailout money wasn't a hand out. Mist have not realised as of yet.....its to be paid back!!!
David HollandI totally agreeing. How in any way will this benefit the locals buying properties? I agreeing less properties will be up for sale. It seems that thinking in a coherent way seems to elude the government totally.
David HollandThe construction industry will be over the moon🙄
At a time when there is apparently a shortage of affordable properties on the island. Would this sales tax not deter and limit the property coming to the market , and that, that does be at a increased price to cover this tax loss penalty..further disadvantaging the young. Just seem counter intuitive, except of course for increased council income , which may not necessarily occur if property sales are deterred ..