The Andalucian regional government has approved a law in force from 27th April Decree law 7/2021 of reducing taxes on the purchase of property in the region.
The two principal taxes that are being reduced are property purchase or transmission tax and stamp duty on property transactions. Transmission tax – ITP – will now be charged at a standard rate of 7% reduced from the previous sliding scale of 8% to 10%. Stamp duty – AJD – which had been charged at 1.5% is now reduced to 1.2%. This tax reduction affects declarations of new works, cessions of credit and other property related transactions that are signed before a Public Notary.
Guarantees, resolute conditions and securities over land or property will continue to be charged at 1%. The tax reductions that are available for under 35’s and other groups such as for the disabled or large families remain the same.