Conveyancing Marbella
The Onerosa Property Transfer Tax (ITP) is regulated by the Royal Legislative Decree 1/1993 and 828/1995, which is a tax that levies operations that are related to the transfer of assets between individuals. Recently, the Official State Gazette (BOE) published information on what will be the change that will make the mortgage tax fall on the bank.
As we reported in our law firm in Marbella this change took effect last year, which consists in a single article with four provisions and changes that are very important to take into account. In these modifications, Article 29 of the Law on Property Transfer Tax and Documented Legal Acts (ITPAJD) was altered, as we said in our legal services law firm.
Conveyancing Law experts
Before the change would be made in the real state law, it was stipulated that “The purchaser of the property and the people who request or file notarial documents, or those whose interest is issued, will be taxable”, but since the law was made, the following information came into force: “In the case of deeds of home equity loans, the lender will be considered taxable.” Article 25 has also been changed, which indicates the extensions of the tax. Because the taxpayer changes, the decree exempts ITPAJD from paying to the banks in operations in which the payer was already legally exempt. Specifically, the information that was added indicates that “the deeds of the home equity loan in which the borrower is one of the persons or entities included previously”. This refers to the tax exempt entities: non-profit organizations, the State, foundations, Royal Academies, Churches, political parties, Red Cross, etc.
Property Law Marbella
This decree of the property law also modified another article of the tax law in Marbella, the article 15, which indicates the expenses that are not deductible by companies. This includes the assumption of the tax debt of the Tax on Patrimonial Transactions and Legal Acts Documented, notarized documents, modality of Documented Legal Acts, referred to in the article 29.
This decree of the property law also modified another article of the tax law in Marbella, the article 15, which indicates the expenses that are not deductible by companies. This includes the assumption of the tax debt of the Tax on Patrimonial Transactions and Legal Acts Documented, notarized documents, modality of Documented Legal Acts, referred to in the article 29.
Remember that the tax is transferred to the autonomous communities and they are the ones that set the series of scales and opinions, this without taking into account the different situations that accredit the Passive Subject or the person who will be transferring the good.
In addition, any solicitor in Marbella will tell you that it is important to know that the liquidation of the Onerous Patrimonial Transfer Tax is based on the real value of the asset transferred in question or on the right established on the date on which the contract or act is signed, thus reducing the charges, which decrease considerably their value.
