The new Spanish government has extended the 4% IVA (VAT) for brand new properties until the end of 2012. This way, brand new property buyers will keep on benefiting from a 4% reduction on their IVA (VAT). This reduction is only applicable to brand new properties from developers, not for resale properties, where transfer tax applies.
Courtesy of Martínez-Echevarría Pérez y Ferrero Abogados
