- July 1, 2010 at 8:23 am #55723
Great news for the Spanish property market!
VAT on new homes goes up today from 7% to 8%. Sure to put some wind in the market’s saggy sails eh.
General VAT goes up from 16% to 18%, so those of us living in Spain will all be 2% worse off.
Can’t remember what the plan is for ITP (tax on resale transactions). Think it staying at 7% (most regions). Can anyone confirm?
- July 1, 2010 at 9:04 am #99425
Mark, I will bet all my worldly possessions that ITP will also go up by 1% to 8%. THe Government just wants to grab money which ever way & under which guise.
You, have lived in Spain for long enough to to know how crudely, blatantly and on your face way things are done with little or no relationship to realities in Spain or its implications with the outside world.
- July 1, 2010 at 9:28 am #99429
Catalan government has already announced plans to raise ITP from 7% to 8%. Don’t know about other regions.
Yes, I know how politicians, funcionarios and laws work in Spain. Mind boggling.
- July 6, 2010 at 11:18 am #99506
This is how the commercial reasoning works in Spain. People not taking Taxi’s, increase fare’s, resturants taking down increase prices.
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