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    davidjimenezabogado
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    Expert Reveals Key Tax Deductions for Home Sellers in Spain, Offering Crucial Financial Guidance

    Madrid, Spain – Property owners across Spain contemplating the sale of their homes now have access to vital information that could significantly reduce their tax liabilities. David Jiménez, a highly respected lawyer and economist, and the CEO of Eyco Abogados, has recently unveiled a comprehensive list of ten deductible expenses specifically designed to help sellers minimize their payments to the Spanish tax agency, Hacienda. This expert guidance is particularly timely for a dynamic real estate market. Jiménez meticulously detailed the various costs that are eligible for deduction. The list begins with the commonly incurred real estate agent's commission and the associated notary expenses, which are often substantial. He further clarified that administrative fees, known as 'gestoría' in Spain, along with the costs involved in cancelling a mortgage, and obtaining the obligatory energy efficiency certificate, are all legitimate deductions. For sellers who took the initiative to personally cover advertising or professional photography costs to market their property, these expenses can also be claimed. Legal fees for any contracted legal assistance during the sale process represent another important deduction that many might overlook. Crucially, Jiménez also pointed out the ability to deduct the Property Transfer Tax (ITP) or Value Added Tax (VAT) that was paid during the original purchase of the house. The municipal capital gains tax, or 'plusvalía municipal,' and property registration costs complete the ten key deductions. "It is absolutely essential for sellers to be fully aware of these deductions to optimize their financial outcome and pay the least amount possible under the law," Jiménez emphasized. He concluded with a critical piece of advice for those selling a property that was previously rented out: "If that house was previously rented, you will have to make a specific adjustment to ensure you tax correctly and avoid future issues." This expert insight aims to empower property owners to navigate the often-complex landscape of property sales and tax obligations with greater confidence and efficiency.

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