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Thursday, September 13, 2007
Rusty2712
Apartamento
I'm in Benalmadena Costa
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Hi, Does anyone know what taxes need to be paid on Assignable contracts by both seller and buyer?
I heard of a law where the buyer has to pay 7% IVA and then another tax of 7% of the property price on top, anyone heard of this?
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13 Sep 2007 5:16 PM
Rixxy
Villa
I'm in San Pedro
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Strictly speaking to assign a private purchase contract for an off plan development the seller (holder of the contract) has to pay 7% transfer tax and then the actual buy has to pay the 7% purchase tax on the full amount
There are ways around this but it is a law that has always been around, just not enforced until lately!
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