New developments in transfer taxes

Our colleague Rocío García Ramírez, technical director of the local taxes department, explains in the following article, published in Economía3, the current situation to understand the capital gains tax after the recent changes in the way it is calculated.

Until the reform of October 2021, this tax was calculated by multiplying the cadastral value of the land on the date of the transfer by the number of years of permanence of the same in the assets of the transferor and by the tax rate set by the City Council, with a maximum of 30%.

Currently, taxpayers have the option of paying tax on the real capital gain, justified by their own means, with new cases in which the Town Councils have new powers to carry out the corresponding verifications. In other words, transactions where there is no increase in value will not be subject to taxation.

What taxpayers can do is to carry out a detailed analysis of their taxable income, establishing two methods for calculating the taxable income. In this sense, it is essential to be advised by experts who facilitate this type of procedure and to be able to count on the tranquility of knowing that the only thing you will obtain will be benefits.

Are you planning or have you made a real estate transfer?