REAL ESTATE PURCHASE.
The Vendor must pay two taxes: one municipal, Tax on Added Value on Urban Land; And one of the central estate, Income Tax, as for the increase of equity or capital gains. The basis for calculating this tax is determined by the difference between the sales value and the purchase value, which establishes the existence of a profit or loss for the seller.
The tax that the PURCHASER will have to pay is the Transfer Tax. This is a tax that depends on the Regional Government, being established in the Valencian Community on the 10%. It is calculated on the price declared in the deed, which must be the real, and paid by the buyer within the term of the month of signature before a Notary.
If the seller is NOT RESIDENT, the BUYER retains the seller 3% of the price, to enter directly into the AEAT.
The amount of the Plusvalia Municipal, which corresponds to the seller, should be discounted from the buyer’s price, especially if the seller is a non-resident.
HERITAGE AND DONATIONS
In the case of inheritances, the tax to be paid is the Inheritance Tax, upon a variable scale, being different according to the Region in which the Property is located. The same thing happens with the Donation Tax. As an example (not valid to make specific calculations) we expose the current rate of state scope for the 2017 financial year: