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    lawtips
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    Hidden Costs: How Your Garage Purchase Can Double Your VAT on a New Spanish Home

    Madrid, Spain – Prospective homeowners in Spain are advised to pay close attention to the tax implications when purchasing new properties, particularly concerning garage spaces. According to legal expert Lawtips, a common oversight can lead to significantly higher Value Added Tax (VAT) payments. Typically, when a new house and its corresponding garage space are acquired simultaneously, the transaction is subject to a 10% VAT. However, Lawtips warns that if the garage space is purchased separately from the main property, it will be taxed at a higher rate of 21% VAT. This discrepancy can result in several thousand euros in additional costs for buyers. Furthermore, the expert highlights another critical point: if a buyer acquires more than two garage spaces with a new home, the third and subsequent spaces will also be subject to the 21% VAT rate. This is because, under current regulations, additional garage spaces beyond the first two are considered an investment rather than an integral part of the primary residence. Lawtips advises buyers to discuss these details with their property developers to ensure that all garage spaces intended for personal use are unified with the main property in the purchase agreement. This proactive step can help avoid unforeseen tax burdens and potential complications if the property is later sold.

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    Información
    one month ago

    ¿Vas a comprarte una casa con plaza de garaje? No caigas en estos errores

    Un pequeño detalle en la compra de una vivienda puede elevar el IVA del 10% al 21% en los aparcamientos privados, con un impacto de miles de euros en…

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    Diario ABC
    one month ago

    Un abogado alerta del error común que cometen los españoles al comprar una vivi…

    Al comprar una vivienda es fundamental tener en cuenta todos los detalles fiscales que pueden marcar la diferencia

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    Diario de Noticias de Navarra
    14 days ago

    Andrés Millán, abogado: "Esta es la típica cagada cuando compras una casa nueva"

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    2 months ago
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