1. Income tax (capital gains tax) for the seller Capital gains such as profits produced by way of the sale of real estate property in Spain are subject to the Spanish income tax. Calculation of the benefits of the sale This profit is calculated from the difference between the price … Continue reading
Possibility of tax exemption on real estate sales Exempt from capital gains tax are: Persons over 65 years old Those residents over 65 who are selling their property and for the past three years have effected declarations with proof of owner occupancy in their Spanish income tax returns. Sale of … Continue reading
GENERAL: Although there is no legal obligation in Spain to have sales-purchase contracts notarized, it is nevertheless highly recommended to do so. When buying real estate a private contract is usually signed before issuing the public sales-purchase deed (escritura de compraventa). In general there are three types of written sales … Continue reading