In INTIAA, we perform various operations of real estate sales in general. The sale of a home means that its protagonists, buyers and sellers, know and assume the payment of taxes such transaction takes implicitly.
Today we focus on the selling part or owners: Broadly speaking, who sell your home to pay the capital gain of Finance (income tax), the tax or municipal goodwill, cancellation of the mortgage (if there is a burden on housing) and expenses notary.
From INTI AA and, through this article, we want to help clarify the doubts generated by the tax known the “Municipal Capital Gains” and how it is calculated:
Tax on the Increase in Value of Urban Land, popularly known as “municipal surplus” is a direct tax levied on the increase in value experienced by the urban land and is manifest as a result of the transfer of ownership land for any reason (sale, inheritance, gift …) or constitution or transmission of any real right of enjoyment, limiting the domain, on the said land.
The rural land are not subject to this tax.
This tax must be paid at City Hall in which is located the house is sold.
It is obliged to pay this tax the seller.
In the case of sale it is to be settled this tax in the 30 subsequent to the date of signing of deed business days (not computable Sundays or holidays).¿Cómo se calcula la Plusvalía Municipal?
Let’s look at a practical example of how the Municipal Tax on the Increase in Value of Urban Land, also known as a municipal capital gain is calculated. For practical course will use the situation of selling a house, apartment or building plot, being the most common cases.
Let us begin! To make the calculation previously we need the following data: