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lunes, 13 de julio de 2020

 

 

  Transfer tax and stamp duty

 

From Marti Projects in its desire to try to solve, help and inform in a series of regularly published posts through our www.martiprojects.com of the possible doubts that may appear in everything related to the real estate sector such as taxes, expenses, services, notaries, unforeseen, etc.

 

      We dedicate this space to a type of tax called,

      Transfer tax and stamp duty

 

    1 Regulation

    2 Object

   2,1 The onerous patrimonial transmissions

  2.2 Corporate operations

  2.3 Documented legal acts

   3 Taxpayer

  3.1 In onerous equity transfers

  3.2 In corporate operations

  3.3 In documented legal acts

   4 Tax Base

  4.1 In onerous property transfers

  4.2 In corporate operations

  4.3 In documented legal acts

   5 Tax quota

  5.1 In onerous property transfers

  5, 1,1 Transfer of real estate

  5, 1,2 Transfer of personal and mobile goods

  5, 1.3 Transfer of properties whose real value does not exceed 130,000 euros

  5, 1,4 To the acquisition of housing for resale by a natural or legal person

  5, 1,5 Constitution of real guarantee rights

  5, 1.6 In the case of leases.

  5.2 In corporate operations

  5.3 In documented legal acts:

    6 Obligation to self-assess for the unexpected loss of tax benefits.

  7 Example

 

    1 Regulation


The Tax on Patrimonial Transmissions and Documented Legal Acts is regulated by Royal Legislative Decree 1/1993, of September 24 (BOE of October 20) and developed by Royal Decree 828/1995, of May 29 (BOE of 22 of June).

 

     2 Object
   The purpose of this tribute is constituted by:

 

 - 2.1 The onerous patrimonial transfers:

 - Purchase and sale of movable or immovable property, constitution of real rights, leases ...

 - Sale between private individuals of used vehicles (vehicles, motorcycles and boats)

 - 2.2 Corporate operations: Constitution, increase and decrease of capital, merger, division and dissolution of     companies ...

 - 2.3 Documented legal acts: Deeds, notarial acts and testimonies, bills of exchange, preventive annotations practiced in Public Registries ...

 

    3 Taxable person
  The taxable person of this tax will be:

 

 - 3,1 In the onerous patrimonial transmissions: The acquirer or that person in whose favor the real right is constituted, who promotes the domain records or the acts of notoriety ...

 - 3.2 In corporate operations: In the constitution, capital increase, merger, spin-off ..., the company; in the dissolution of companies and capital reduction, the partners

 - 3,3 In the documented legal acts: In the notarial documents, the acquirer of the good or right, or the one who insists the document or to whose interest it is issued; in bills of exchange, the drawer; in the preventive seizure notes, the person requesting them.

 

    4 Tax base
  The tax base of the tax will be:

 

 - 4.1 In onerous property transfers: The real value of the property transferred or of the right constituted or assigned

 - 4.2 In corporate operations: In the constitution and capital increase, it will be the nominal amount of the latter plus the issue premiums, in the case of companies that limit the liability of their partners, or the net value of the contribution in other cases, as well as the contributions of the partners to replace losses; in the spin-off and merger, the base will be the capital of the newly created entity or the capital increase of the absorbing company, plus the issue premiums; in the decrease of capital and dissolution, the base will be the real value of the goods and rights delivered to the partners.

 - 4.3 In documented legal acts: In documented legal acts: in the case of first copies of public deeds that have as object quantity or valuable thing, the declared value will generally serve as the basis; in bills of exchange, it will be the amount drawn; in preventive annotations, the value of the right that is guaranteed, published or constituted.

 

   5 Tax quota
  The tax fee will be obtained by applying the following types of tax to the tax base:

 

 - 5.1 In onerous equity transfers

 - 5, 1,1 Transfer of real estate

In general, in the transfers of real estate, as well as in the constitution and assignment of real rights that fall on them, except in the real rights of guarantee, the tax quota will be obtained by applying on the taxable base the rate that results from the following rate:


In the case of transfer of properties that have the urban classification of a parking space, except for garages attached to the house, with a maximum of two:


 - 5, 1,2 Transfer of movable and semi-moving assets, as well as the constitution of real rights over them other than those of guarantee:

 - 4%, in general

 - 8%, in the transmission of boats of more than 8 meters in length, vehicles of more than 15 horsepower and fiscal objects of art and antiques.

 - 5, 1.3 Transfer of property whose real value does not exceed 130,000 euros when they are destined for the habitual residence of the acquirer and the latter is under 35 years of age, or 180,000 euros when it is destined for the habitual residence of the acquirer and the latter is considered a person disabled with a recognized degree of disability equal to or greater than 33%.

 - 5, 1,4 To the acquisition of housing for resale by a natural or legal person

 - 2% to the purchase of a home for resale by a natural or legal person who carries out a business activity to which the adaptation rules of the General Plan of the Real Estate Sector are applicable.

 - 5, 1,5 Constitution of real guarantee rights

 - 1%, in the case of the constitution of real right of guarantee, pensions, sureties, loans and the assignment of credits.

 - 5, 1.6 In the case of leases

According to the tax scale established in the Law, in the case of leases.

With effect from January 1, 2015, tax rate rebates will be applied in the constitution and exercise of a purchase option in lease contracts linked to certain operations of payment in kind.

 5.2 In corporate operations: In corporate operations: the tax rate is 1%

- The constitution of companies, the capital increase, the contributions made by the partners that do not imply a capital increase and the transfer to Spain of the effective management headquarters or the registered office of a company when neither were previously located in a Member State of the European Union.

 5.3 In documented legal acts:

- In the first copies of deed and notarial acts when they have as object quantity or valuable thing, contain acts or contracts that can be registered in the Property, Mercantile, Industrial Property Registries and in the Personal Property Registry:

- From January 1 to June 22, 2012: 1.2%.

- Since June 23, 2012 (Law 3/2012): 1.5%.

 - 0.5% for preventive embargoes.

 - 0.3% in acquisitions of the habitual residence of real value not exceeding € 130,000, for taxpayers under 35 years of age.

 - 0.3% in the constitution of mortgage loans by taxpayers under 35 to acquire the habitual residence, as long as the real value of the dwelling and the principal of the loan do not exceed € 130,000.

 - 0.1% in acquisitions of the habitual residence of real value not exceeding € 180,000, by taxable persons who are considered a person with a disability with a recognized degree of disability equal to or greater than 33%.

 - 0.1% in the constitution of a mortgage loan to finance the acquisition of the habitual residence of people with disabilities with a recognized degree of disability equal to or greater than 33%, when the real value of the dwelling and the value of the principal of the loan is less than 180,000 euros.

 - 0.1% for notarial documents that formalize the constitution and cancellation of collateral rights, when the taxpayer is a Reciprocal Guarantee Company with registered office in the Autonomous Community of Andalusia.

 - 2% in notarial deeds that formalize property transfers in which the exemption from Value Added Tax is waived.

- According to the tax scale established in the Law, in the case of bills of exchange.

 

   6 Obligation to self-assess for the unexpected loss of tax benefits.


Failure to comply with the requirements of the benefits regulation determines the obligation to enter the part of the tax that would have been stopped as a result of the application of the tax benefit, by filing a complementary self-assessment.

 

   7 Example


Example: In 2014 I acquired a second-hand home applying the reduced rate of 3.5%. In 2015 I sold it to buy another one. For a home to reach the status of "habitual" the requirements established by the IRPF regulations must be met. If after the time this condition is lost (in the example, the house has been sold before the term established by the IRPF Law) I will have to submit a self-assessment for the fee that I stopped entering when applying the reduced rate and not the general one.

From our Real Estate Agency in Moraira, Marti Projects S.L. We want to make ourselves echo in the transmission of information, trying in this way to be able to help you to solve any doubt corresponding to this type of tax and its characteristics. We always advise you to go to your trusted manager for your particular case.

 

   Related Posts

VAT and its characteristics

What is a complementary self-assessment?

Personal Income Tax

Capital gains, registration, notary and other expenses

IBI Real Estate Tax

Income Tax for Non-Residents

 
 
 

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