How your annual tax declaration changes when you buy a property in Spain

AI Briefing

• – When buying a property in Spain, you must report the purchase price and a 5% stamp duty to the tax authorities.
• – As a tax resident, you'll also pay annual property tax (IBI) on the property's value, which is typically due in March of each year.
• – The purchase of the property also triggers a new tax liability for the property, which may include a tax on the annual rent or property income from rental properties.