The valencian Government raises Transfers Tax from 8% to 10%

From today if you buy a second-hand housing in the Valencian Community will pay a 10% transfer tax , a new general rate on real estate transfers, passing said rate from  8 to 10%, in line with the rate of VAT applicable to the delivery of new homes.

However, for certain real estate transfers the Government sets the rate of 8%, which is applicable to the acquisition of public housing dwellings that are main residences, to the acquisition as main residence by young people up to 35 years, with certain income limits and in certain cases are also taxes at 8% real estate acquisitions by businesses and entrepreneurs and that may involve maintenance or employment generation.

Finally, maintaining the rates of 4% on the purchase of a primary residence large family, or a disability, as well as the acquisition of social housing in special regimes that are main residences. In the case of the large families there are simplified the requirements for the application of the reduced, requiring only holding the large family certificate and income below a certain limit, and letting of further specific requirements set forth above, as the term for the acquisition of the new housing and the sale of the above, or the requirement for greater the new surface from the previous housing in order to achieve greater tax neutrality in making decisions of this type of housing families higher loads associated with the number of children.

In the form of Stamp Duty, is established for an indefinite period, a new general rate of 1.5%, which means that the Stamp duty general rate rises from 1.2% to 1.5%.On the other hand, the valencian government maintains the reduced rate of 0.1% and the assumptions on which it is applied.

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