In July 2017, the government approved the bill amending the former Local Taxes Law, which taxed housing sales even when there was a Capital Gain loss.!
The new Law establishes in what situation there is a loss and there is no increase in the value of urban land.
The deed of sale establishes whether it has been sold in losses or not.
There are important developments in the new Law.!
1) Sales made in losses are no longer taxed.
2) The Deed has priority to establish if the property has been sold in losses, soif the administration does a check of values, you should appeal against it since the city council can take the (higher) valuation of the administration as the value to calculate the municipal plus valia tax.
3) The legal multiplication index are being modified and sales made within one year from the acquisition of the property are taxed as well.
4) The new Law will have retroactive effect for the cases of sales in losses, that is to say from the date of the publication of the Constitutional Court, ruling on 06-15-2017.
Real estate Ks has a large portfolio of properties with new and modern villas in Finestrat, second-hand villas in El Campello and Busot, first line apartments, penthouses, rustic houses and land to build, to meet the needs of anyone who wants to buy on the Costa Blanca. And if we do not have the property you are looking for, we will find it.
A warm greeting from the Ks team