Spanish Government has reduced VAT

[ian.wilson]

The Spanish Government has reduced the Value Added Tax on the purchase of all new Spanish property from 8% down to 4% for the next four months until 31st December 2011.

Government Spokesman and Minister of Development, José Blanco, announced that the Spanish Government has decided to reduce VAT from 8% to 4% on the purchase of new housing, temporarily, until December 31st 2011. The initiatives were approved by Royal Decree, and put into effect immediately.

This represents a saving of €8,000 on the purchase of a €200,000 property, a great saving on any new property purchases completing in August, September, October, November & December 2011

This does not apply to resales only new property.

Some good news

Ian

[knowal]

I wonder why they put it up from 7 to 8% a while back.
The housing market needs a bigger kick than that to revive it.

[El Cid]

This has already been posted in the Living in Andalucia thread.

Sid