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What is Plusvalía?
The Plusvalía is a tax that affects the increase in the value of urban land and that must be paid to the city council in a purchase-sale or donation.
This means, who must pay a tax for improvements in urban infrastructure which has been the area where is located the property and which therefore, This has been revalued.
This tax rests on the seller or housing transmitter and is who should pay for it, unless there is an agreement with the buyer.
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How to calculate the Plusvalía in Malaga?
El 10 November 2021 entered into force the Decree-Law by which the way of calculating the surplus value was modified. However, currently, the seller can choose the method that interests him most to calculate the payment of his surplus value, either with the traditional formula or with the new one.
To calculate it can be done directly in the corresponding administrative department in Tabacalera, providing ownership of the property and a receipt from the IBI script or through the web page of the City Hall with the cadastral reference or UTM.
You can also go to your nearest office of Planetacasa and request a free valuation where will you calculate the added value without any commitment on your part.
Here's how to calculate the capital gain of your home:
The tax rate in Malaga is 30%
The Coefficient of increase in Malaga goes from the 3,70% up to the 3% depending on the years that the house has been owned
To calculate the tax base the Soil value x Coefficient of increase
Another method to calculate the tax base is to know the cadastral value of the property, the acquisition value of the property and the transfer value.
(Transfer value of the home – Value of acquisition of the same) X Percentage of cadastral value
Starting from this, the surplus value is calculated by multiplying the Tax Rate (30%) x Tax Base
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Where to pay the Plusvalía in Malaga?
To carry out the Plusvalía procedure, a payment letter must be requested from the relevant state agency. In the case of Málaga, you have to make an appointment in the Tabacalera building and provide the simple copy that they give us in the Notary after the signing of the sale. This procedure is mandatory for the owner seller of the property and in no case can be required of the buyer, unless there is a prior agreement between both parties. The same, will always be processed in the name of the seller.
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What is the deadline to pay the Plusvalía in Malaga?
The term to pay the capital gain will be 30 working days after signing the sale. This period will be extended until 6 months in case of being a transmission by inheritance or donation. In some cases you can also request a postponement up to 1 year.
Keep in mind that, if the seller resides abroad, this charge shall be borne by the buyer.
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How much is the maximum that can be paid for Plusvalía in Malaga?
The maximum is a computation of no more than 20 years since the house was acquired. I mean, even if the house has a purchase age of more than 20 años, the maximum that the tax admits are those 20 años. The formula to calculate it would be in this case 20 X 3% (60%). Nor is the payment of capital gain contemplated if it is less than one year.
✅ How to pay the Plusvalía in Malaga?
Once you have obtained the payment letter from the official body or tax agency, you must go to any of the banks assigned in the payment letter where you must make the payment. The bank will give you a stamped copy of the payment of the capital gain so that you have proof that this tax has been duly paid.
When does Plusvalía prescribe in Malaga?
Since the change of ownership is made after the sale, donation or, in case of inheritance, from the date of death, the surplus value has a period of 5 años, past which, if there is no claim by the City Council, the payment for capital gains is time-barred.
If, on the contrary,, the City Council claims the payment of this tax, the surplus value shall not prescribe the 5 años, but it will accumulate and generate interest until the seizure of goods or accounts is given to settle this debt.
Who is exempt from paying the Plusvalía in Malaga?
Only if it is shown that no benefit has been obtained from the sale can the exemption from the payment of the Capital Gain be applied.. This is, if the home has been devalued and sold below its value, or if the area has not really undergone improvements or its quality has worsened. In any case, it is a subjective vision that must be consulted directly with the city council.
As for reductions in the payment of Plusvalía, a deduction can be requested in case of being a transfer by inheritance and it is shown that the person who inherits the property is a relative in the first degree (child or sibling), and who has lived together for at least two years at home, this being his main residence.
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Calculate Surplus value of flats in Malaga
Calculate Capital Gain of Houses in Malaga
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Request Processing of Plusvalia
