What taxes are paid for the first home purchase?

The real estate market is among the first investments. Naturally, this result is also favored by tax legislation, which presents a series of concessions for the purchase of a first home. But what taxes do you pay to buy your first home?

Anyone using the “first home” benefits will have to pay the following taxes:

If the seller is a private individual or a company that sells exempt from VAT :  proportional registration tax of 2%; fixed mortgage tax of 50 euros; fixed cadastral tax of 50 euros.

If you buy from a company with a sale subject to VAT : VAT reduced to 4%, fixed registration tax of 200 euros, fixed mortgage tax of 200 euros and fixed cadastral tax of 200 euros.

When you buy your first home, you pay lessened taxes on the act of purchase of a home if certain conditions are met. Let’s take a good look at what the subsidized taxes are and the requirements for obtaining these benefits¬†land for sale koh samui.

First home benefits

The taxes payable are reduced when the purchase concerns the first home . The same subsidized taxes are also applied to the appurtenances even if purchased with a separate deed from that of the first home purchase.

The concessions are applied in these cases which we will then go into further:

The building you buy own to distinct cadastral classifications

The construction is found in the Metropolis where the buyer has or will have his residence or work

The buyer has certain requirements

Another benefit concerns the deeds subject to the proportional registration tax and the essential deeds to carry out the fulfilments in the cadastre and real estate registers: there are no costs for stamp duty, nor are there special cadastral taxes and mortgage fees.

How are taxes calculated?

When a first home is purchased, if the sale is subject to VAT, the taxable base on which to calculate the value added tax (4%) is characterized by the sale price. Registration, mortgage and cadastral taxes cost 200 euros each.