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REDUCTION OF SPANISH VAT ON NEW PROPERTIES

The past 20th of August, the Spanish government reduced the VAT in the acquition of NEW PROPERTIES from 8 % to 4 % till the end of the year.

So, from today till the 31st of December 2011, the acquistion of a new property will be taxed with 4 % instead of the 8 % as before. Now, a property with a price of 200.000 EUR, will have a recuction in expenses of aproximately 8.000 EUR!.

With this decision, the Spanish goverment wants to increase the damaged sector of construction of new properties, with a high level of stock from properties for sale.

Please, feel free to contact us for more information about this subject.

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