What taxes do I have to pay to sell an apartment in Madrid in 2023?

mimislam259

Probably, now that we have just started the year and the deadline for the Income Tax Return is approaching, you are already thinking about what taxes you will have to pay for selling your apartment in Madrid in 2023 and how Jamaica Phone Number List much it will cost you. Well, don't worry anymore, because in today's article we come to explain just that. Take note!

Have you not sold your home yet?
Don't worry, we help you sell it at the best price and in 60 days
I'M INTERESTED
Taxes for selling an apartment in Madrid in 2023
We already know that when selling an apartment you have to face several one-time payments , both in the form of expenses and taxes, which are the Value Added Tax (VAT), the Tax on Documented Legal Acts (AJD, for new apartments ) or the Property Transfer Tax (ITP, for used apartments), notary, registration and appraisal and mortgage expenses.

But the thing does not stop there, we must also take into account the recurring payments of the Personal Income Tax (IRPF), the Municipal Capital Gains (IIVTNU) and the Property and Real Estate Tax (IBI).

Let's see what function each of these three periodic taxes has:




Personal Income Tax : Taxes the profits obtained from the sale of the property, and is paid in the Income Tax Return.
Municipal Capital Gains : Taxes the increase in the value of the land, and is paid to the local administration 30 business days from the date of public deed.
IBI : Taxes the value of real estate, and is paid to the local City Council every January 1.