I
illeslex
New member
Good afternoon,
Our Law Firm is keen on informing you that the Spanish government has proposed some fiscal reforms which can imply an important change just in case they are finally approved.
Maybe they have effect from 2015 but we would like to insist, they are only proposals. They are not applicable at the current moment at all.
They are the following:
- The VAT rate on new builds would be raised to 10% (now is 4%).
- The current tax reduction for purchasing a new build would not exist anymore.
- Taxpayers over 65 years old would not be liable to capital gains tax on any assets.
- The tax exemption applicable nowadays to landlords would be reduced.
If the tenant is older than 30, the current exemption of 60% would be reduced until 50%.
However, if the tenant is younger tan 30, the percentage would change from 100% to 50%. As you could see, a drastic change.
- Inflation relief for properties bought before 1994 would dissapear.
ILLESLEX expects that you had considered this information interesting.
Should you have any question, do not hesitate to contact us: info@illeslex.com
Best regards,
Our Law Firm is keen on informing you that the Spanish government has proposed some fiscal reforms which can imply an important change just in case they are finally approved.
Maybe they have effect from 2015 but we would like to insist, they are only proposals. They are not applicable at the current moment at all.
They are the following:
- The VAT rate on new builds would be raised to 10% (now is 4%).
- The current tax reduction for purchasing a new build would not exist anymore.
- Taxpayers over 65 years old would not be liable to capital gains tax on any assets.
- The tax exemption applicable nowadays to landlords would be reduced.
If the tenant is older than 30, the current exemption of 60% would be reduced until 50%.
However, if the tenant is younger tan 30, the percentage would change from 100% to 50%. As you could see, a drastic change.
- Inflation relief for properties bought before 1994 would dissapear.
ILLESLEX expects that you had considered this information interesting.
Should you have any question, do not hesitate to contact us: info@illeslex.com
Best regards,
