Andalusia’s New Transfer Tax Cut to 7%: Impact on Property Market
Learn about Andalusia’s new transfer tax cut to 7% and its implications for the property market. Explore the impact now.
· 1 min. read
Last Tuesday 27th of April the Extraordinary Official Gazette of the Regional Government of Andalucía (BOJA) number 37, published the Decree-Law 7/2021 of 27 of April which reduces the Property Transfer Tax and Stamp duty tax in Andalucía, a measure taken by the local government to boost and reactivate the economy in the region given the critical situation generated by the coronavirus pandemic (COVID19).
This new Law is valid exclusively for taxable transactions formalised as of the date of its publication in the official regional gazette (Wednesday April 28) until December 31, 2021 if not prolonged then. The Property Transfer Tax was, until now, scaled at 8-9-10% and is now replaced by a single flat rate of 7%.
Under the same manner as above, the applicable rate for Stamp Duty Tax has been reduced to to 1.20% from 1.5%.
See the original news published in Spanish by Mundo.es: “The Andalusian Government lowers Property Transfer Tax to 7%"
