The IBI tax in Spain is an annual municipal fee. Its objective is to tax municipal property. Its objective is to tax certain real estate rights. Read on to discover the details of this important Spanish rate.
This is the scope of the IBI tax
What does the IBI tax?
The IBI taxes the ownership of certain real estate rights constituted on all types of immovables (buildings and plots of a rustic, urban or special nature) located in the municipality.
The IBI is not only a property tax in Spain, but also taxes the fact of being a holder of other real rights (such as surface and usufruct) and even being the awardee of an real estate administrative concession
Who should pay the IBI?
Entities, individuals and legal entities that own the ownership of taxed real estate rights must pay the IBI tax in Spain. When several titles fall on the same property, the legally established priority order must be met to know who is the taxpayer of this rate.
How is the IBI calculated?
The applicable deductions and the tax rate (which varies according to the number of inhabitants of the municipality and the type of immove) are applied to the tax base (constituted by the cadastral value of the soil and construction). The result of this operation is the tax base.
We have to take into account the tax implications of IBI tax at time of selling a property in Spain:
- When a property is sold (and unless otherwise agreed), the seller and the buyer generally distribute the payment of this tax in proportion to the months of occupation of the house.
- The seller must present to the notary the last IBI´s paid receipt , because in the case of owing it, the debt will be transmitted to the buyer.
Is a lawyer in Fuengirola necessary to pay the IBI?
Property taxes in Spain are very complex (especially for foreign residents). Consider the problems associated with: the calculation formulas, the differences according to the municipality, the rights to exemptions and bonuses …
To pay only your share and not suffer the penalties arising from non-payment, it is essential to have the services of a law firm in Marbella specializing in real estate law and due diligence. There you will find the professional support of the best lawyers in Spain.
The best way to pay IBI tax in Spain without complications is to hire the services of the GM Lawyers firm. His team of polyglot solicitors is expert in helping foreigners residing in Spain. What are you waiting for to make an appointment?
