As the seller, you are liable for the following taxes and expenses when you sell your Spanish property:
Plusvalía
This is a local tax, calculated on the increase in the value of land and how long you have owned the property. It is known as the Impuesto sobre el incremento del valor de los terrenos de naturaleza urbana in Spanish and paid to the local council.
The tax is usually paid by the seller, although you may come to an agreement to divide the payment between the buyer and seller. Plusvalía must be paid within 30 days of signing the title deeds.
Capital Gains Tax
If you are not resident in Spain, the buyer pays 3% of the property price to the Spanish tax authorities on your behalf as capital gains tax. You can claim a refund on the excess amount within three months of selling your property. CostaLuz Lawyers can provide full assistance with this process.
Notary And Registry Expenses
Unless agreed differently, the seller pays for all notary costs except for one copy of the title deeds paid for by the buyer. The buyer also pays for all expenses associated with the Land Registry.