ESTATE TAX
(ITBI)
In normal purchase and sale transaction, 2% (two percent) shall be withheld over the
amount attributed by City Hall. When this is a cash sale, withholding shall be beforehand,
before signing the deed for purchase and sale.
When it is a term sale, withholding can be made within 30 (thirty) days after signing the
promissory deed for purchase and sale.
LAUDEMIUM
This is owed when the property is a TENEMENT.
The property can be rented to the union,
the Township, to Families and to Entities. For each case there is a percentage to be
withheld at the signing of the deed.
To know whether it is TENEMENT property to
the Township, obtain an EMPHYTEUTIC CERTIFICATE.
To know whether it is TENEMENT to the
Union, Families or Entities, obtain a MORTGAGE CLEARANCE CERTIFICATE issued by the Notary
Public of Properties.
NOTE: There are properties that withhold
more than one LAUDEMIUM at a time.
REAL ESTATE PROPERTY PROFIT
Whenever we sell a property, we are subject to the withholding of TAX OVER REAL ESTATE
PROPERTY PROFIT. This occurs because when we sell a property, we are generally earning a
capital gain.
The “CAPITAL GAIN” is a positive
difference, in UFIR, between the amount to transfer the good or right and its acquisition
cost.
According to NORMATIVE INSTRUCTION # 31, of
5/22/96, of the Ministry of the Treasury, the ascertained gain is currently subject to
exclusive taxation through the application of a 15% aliquot.
We advise the owner (seller) to consult the
NORMATIVE INSTRUCTION in effect at the time the property is sold, with regard to:
| 1 |
- |
TAXATION. |
| 2 |
- |
OPERATIONS INVOLVED IN DISPOSAL |
| 3 |
- |
COSTS TO ACQUIRE DISPOSED OF GOODS OR RIGHTS |
| 4 |
- |
COSTS THAT ARE PART OF PROPERTY ACQUISITION |
| 5 |
- |
TAX EXEMPTIONS IN DETERMINING CAPITAL GAINS |
|
