LAND TRANSFER TAX

(Impuesto sobre Transmisiones Patrimoniales)

When buying real estate, which is not composed of new buildings, you have to pay a Land Transfer tax (Impuesto de Transmisiones Patrimoniales).

This tax is payable within one month after the signing of the public sales-purchase deed (escritura de compraventa) and is always paid by the buyer.

In Ibiza it amounted to between 8-10 % of the notarized sales price and was graded as follows :

 
Since 1st of January 2016 it is amounted to between 8-11% of the notarized sales price and is graded as follows:

In case of late payment, a late payment surcharge has to be paid.