This is great news if you think of selling your property in Spain
For now, Plus Valía is on hold. The Constitutional Court of Spain temporarily annuls the tax as it considers that there’s no way for those who sell their property in Spain to calculate and pay this extra fee since its objective system doesn’t match reality- which can lead people with less economic capacity paying more due solely because they’re selling off an asset instead if owning something like apartments or houses full time
The plus valía tax or capital gains tax was paid when you sell your property in Spain and is always calculated based on the value of that particular town hall at time-of purchase, regardless if it’s where they consider themselves a main residence. The Spanish Constitutional Court has said that this method doesn’t correspond with how much an increase would be worth for example from just paying cash versus getting financing through mortgages which may have been used to buy another home before moving onto yours later down the line – so make sure to do your research!
The judge ruled that the articles referring to tax calculations are unconstitutional and void because they establish a method for determining how much land has always increased in value, regardless of whether this increase was actually made. Additionally, these laws also deny municipalities from collecting “capital gains” unless approved by new legislation or adjustment at some point in time soon enough
The sentence annuls one’s ability receive money for selling property – which is called “tax plus penalty fees.”
The judgement will not have retroactive effects, which means if you’ve paid your extra value up front than it won’t be reclaimed.
Plexo Properties have a great network of Laywers in Malaga, Torremolinos, Mijas, Fuengirola, Benalmadena, Marbella and Estepona.
So we can help you selling your property on Costa del Sol with the best advices.
