BASQUE COUNTRY: Are you going to buy a VPO?
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Know what tax advantages the purchase of a protected home has.
Purchase from the developer
√ The first transfer of ownership of these homes made by the developer is subject to VAT at the super-reduced rate of 4%. Please note that this rate applies not only to the home but also to garages (with a maximum of 2) and annexes located in the same building that are transferred together with it.
√ In addition, the public deed documenting the transaction is exempt from the gradual fee for Documented Legal Acts.
Purchase of a second-hand VPO
√ If you are a private individual, in this case, you will not have to pay VAT, but the transaction is subject to Property Transfers (TPO) at a tax rate that can be 4%, 2.5%, or even 1.5% (this only in Araba), depending on whether certain requirements are met.
√ However, the purchase will be exempt in two specific cases: when the seller is the Administration, or when it is a private individual, but you have been designated as the buyer by them.
Our professionals will advise you on the purchase of your home and will assist you in settling the corresponding tax.
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