If you’ve come this far, it’s because you’re probably thinking of selling a house in Spain. Before looking for a real estate agent to help you find a buyer, we would recommend that you prepare all the documentation and consider the taxes you will have to pay.
It is also important to know if you are a non-resident or a resident in Spain. According to the Spanish Tax Office, a person is considered to be a legal resident in Spain when any of the following circumstances apply:
To sell your house in any Spanish Autonomous Community there are a series of compulsory documents required for all territories. These documents are divided into two categories: those proving that you own the property and those proving that you are up to date with the payments related to the property.
When selling a property in Spain, even if the owner is not a resident in Spain, he or she must declare the profits obtained to the Spanish tax authorities.
To calculate the IRNR (Capital Gains Tax), the difference between the acquisition and sales value must be taken into account:
Once the amount corresponding to the difference has been calculated, 19% tax will be applied to citizens of the European Union, Iceland or Norway and 24% for citizens from any other country.
Capital gain or IIVTNU is the increase in value of the property during the years the seller has owned it. The capital gain tax depends on the increase in value of the land and the tax rate set by the municipality in which the property is located.
At Savloir. we recommend that you contact a local lawyer. This expert will review the entire process of selling a property in Spain and help you calculate the Sales Tax in order to avoid future surprises.