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Reduced Tax on New Spanish Property is Extended
January 12, 2012The PP party announced at the last council of ministers to extend the 4% VAT sales tax discount on the purchase of new Spanish property for a further 12 months. However, the boe "forgets" the original conditions of the 4% VAT which Rajoy had announced with the purchase of new housing. These conditions were that the measure would apply only to primary residences. Last August Mariano Rajoy said that if he won the election he would prolong the duration of these super reduced r taxes on new home purchases until December 31, 2012 with conditions. The decree law of December 30, published on 31 December at the boe, does not provide any of these conditions. Therefore, the reduction of taxes can be applied to primary residences and to second homes.