{"id":4802,"date":"2019-07-24T12:11:08","date_gmt":"2019-07-24T10:11:08","guid":{"rendered":"https:\/\/chg.es\/vat-on-a-new-build-property\/"},"modified":"2023-04-20T04:12:07","modified_gmt":"2023-04-20T02:12:07","slug":"vat-on-a-new-build-property","status":"publish","type":"post","link":"https:\/\/chg.es\/en\/resort-costa-blanca\/vat-on-a-new-build-property","title":{"rendered":"VAT on a new build property"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Before we buy a house, we have to know all the expenses we&#8217;re going to meet. Recently we described <\/span><b><a href=\"https:\/\/www.chg.es\/en\/impuestos-por-la-compra-de-una-vivienda\/\">the taxes to be paid when buying a hous<\/a>e<\/b><span style=\"font-weight: 400\"> and among them we talked about the VAT. Today we\u00b4ll go deeper into this issue so that you are well informed and do not get caught by surprise.<\/span><\/p>\n<h2 style=\"text-align: center\"><b>What is VAT Tax?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">VAT is an acronym of <\/span><b>&#8220;Value Added Tax&#8221;<\/b><span style=\"font-weight: 400\">. This is an indirect tax which taxes the consumption of goods and services by both companies and individuals. In the case of a property, this type of tax is <\/span><b>only applicable to the new build properties<\/b><span style=\"font-weight: 400\"> and not to the second-hand ones.<\/span><\/p>\n<h2 style=\"text-align: center\"><b>What is a New Build Property?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">New build homes <\/span><b>are purchased directly from the developer<\/b><span style=\"font-weight: 400\">. In other words, the purchase is usually made between the developer as a seller and the end user as a buyer. And what about the VAT if that property has been rented out by the developer before? The VAT will not have to be paid but the ITP because it will not be considered as a new property.<\/span><\/p>\n<h2 style=\"text-align: center\"><b>How Much is the VAT for a New Build Property?<\/b><\/h2>\n<p><b>The VAT rate for a new build property is 10% of the purchase price<\/b><span style=\"font-weight: 400\">, except in the case of properties of official protection which will only be taxed 4%. In the case of garage or storage spaces, 4% also applies. And in the case of commercial premises, the VAT rate goes up to 21%.<\/span><\/p>\n<h3 style=\"text-align: center\"><b>How is VAT Calculated?<\/b><\/h3>\n<p><span style=\"font-weight: 400\">To know the total amount of VAT, you have to do the following:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What\u00b4s first? To know the exact price of the property.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The second is to know the VAT rate that would be applied to the property.<\/span><\/li>\n<li style=\"font-weight: 400\">And the third is to make this calculation: <b>VAT rate x the property price<\/b>.<\/li>\n<\/ul>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-8420 size-full\" src=\"\/wp-content\/uploads\/2019\/07\/iva-vivienda-obra-nueva-chg.jpg\" alt=\"VAT\" width=\"1110\" height=\"600\" srcset=\"https:\/\/chg.es\/wp-content\/uploads\/2019\/07\/iva-vivienda-obra-nueva-chg.jpg 1110w, https:\/\/chg.es\/wp-content\/uploads\/2019\/07\/iva-vivienda-obra-nueva-chg-300x162.jpg 300w, https:\/\/chg.es\/wp-content\/uploads\/2019\/07\/iva-vivienda-obra-nueva-chg-1024x554.jpg 1024w, https:\/\/chg.es\/wp-content\/uploads\/2019\/07\/iva-vivienda-obra-nueva-chg-768x415.jpg 768w\" sizes=\"(max-width: 1110px) 100vw, 1110px\" \/><\/p>\n<p><span style=\"font-weight: 400\">How do you like our advice? If you have any further questions or would like to consult about buying a house, we are at your disposal at <strong>CH<\/strong>G! Don&#8217;t hesitate and come to visit us.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Before we buy a house, we have to know all the expenses we&#8217;re going to meet. Recently we described the taxes to be paid when buying a house and among them we talked about the VAT. Today we\u00b4ll go deeper into this issue so that you are well informed and do not get caught by&hellip;<\/p>\n","protected":false},"author":2,"featured_media":3659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[52],"tags":[],"class_list":["post-4802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-consejos-y-decoracion-en","category-52","description-off"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>VAT on a new build property - CHG<\/title>\n<meta name=\"description\" content=\"Before buying a house, we have to know all the expenses we are going to meet and one of them is the VAT on a new build property. 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