Taxes and other expenses

Taxes and other expenses payable by the buyer

Taxes

  1. Canary Islands General Indirect Tax (IGIC) at a rate of 7%, or at the rate legally applicable on the respective due dates of the partial advance payments, in accordance with the regulations governing the aforementioned tax.
  2. Transfer Tax and Stamp Duty (ITP and AJD), under the Stamp Duty (Actos Jurídicos Documentados) modality, at the rate legally applicable at the time. The current rate is 10% for newly built residential properties, storage rooms and appurtenant parking spaces, and 21% for commercial premises, offices, and non-appurtenant parking spaces and storage rooms.

Other expenses

  1. Expenses for the formalisation of the public deed of sale before a Notary.
  2. Expenses for the registration of the public deed of sale in the Land Registry.