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tributarán por la modalidad de transmisiones patrimoniales

English translation: shall be taxed according to the (Spanish) Property Tax Transmission (TPO) provisions

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:tributarán por la modalidad de transmisiones patrimoniales
English translation:shall be taxed according to the (Spanish) Property Tax Transmission (TPO) provisions
Entered by: Lisa Roberts
Options:
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20:00 Feb 4, 2009
Spanish to English translations [PRO]
Law/Patents - Law: Taxation & Customs
Spanish term or phrase: tributarán por la modalidad de transmisiones patrimoniales
Amendment to Spanish legislation:

Quedan exceptuadas de lo dispuesto en el apartado anterior las transmisiones realizadas en el mercado secundario, así como las adquisiciones en los mercados primarios como consecuencia del ejercicio de los derechos de suscripción preferente y de conversión de obligaciones en acciones o mediante cualquier otra forma, de valores, y tributarán por la modalidad de transmisiones patrimoniales onerosas del Impuesto sobre Transmisiones Patrimoniales y Actos Jurídicos Documentados como transmisiones onerosas de bienes inmuebles, en los siguientes supuestos:

Many thanks,
Lisa Roberts
France
Local time: 14:52
shall be taxed according to the (Spanish) Property Tax Transmission (TPO) provisions
Explanation:
Explanation:
In Spanish the term "oneroso" is often equivalent to the English onerous (excessive, more of a value judgement here) but also can be more along the terms of the English "good and valuable consideration" (a good or service subject to expense for its enjoyment, see Black's); this is fairly common in many civil law jurisdictions... In Spain property exchanges are taxed (like almost everywhere!), and in the case of the purchase of a second hand (ie re-sale) property, a transfer tax of 7% is applied to the official purchase sum. This tax is not the same as Value Added Tax, which does not apply to second hand property, which I am guessing might be the point of the doc you are translating...
Suerte!

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Note added at 14 hrs (2009-02-05 10:53:35 GMT)
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Thus, in this case the tax to be withheld is the Transfer Tax in its variant of Property Transfer Tax (TPO).

Here are some links that might help:

http://www.rimontgo.es/en/information/services/expenses-mort...
http://www.absa.co.za/absacoza/content.jsp?/Home/Personal/Ho...
http://barcelona-properties.com/taxes and fees.pdf



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Note added at 26 days (2009-03-03 08:35:55 GMT) Post-grading
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Glad to have helped! :)
Selected response from:

wordgirl
Italy
Grading comment
Many thanks to you both.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4shall be taxed according to the (Spanish) Property Tax Transmission (TPO) provisionswordgirl
4shall be taxed under the onerous inheritance system
Edward Tully


  

Answers


3 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
shall be taxed under the onerous inheritance system


Explanation:
1 option!

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Note added at 4 mins (2009-02-04 20:04:29 GMT)
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transmisiones patrimoniales onerosas > onerous inheritance tax - [ Traducir esta página ](KudoZ) Spanish to English translation of transmisiones patrimoniales onerosas: onerous inheritance tax [Law/Patents].
www.proz.com/kudoz/spanish_to_english/law_patents/125338-tr... - 34k - En caché - Páginas similares
CIOT - Deceased Estates: the onerous FA 1999 obligation for ... - [ Traducir esta página ]Under s. 216(1) the obligation falls on the PRs and certain other persons, ... on death for which the PRs are primarily liable for the inheritance tax. ...
www.tax.org.uk/showarticle.pl?id=94 - 23k - En caché - Páginas similares
Fort Lauderdale Inheritance Tax Avoidance Lawyer | Pembroke Pines ... - [ Traducir esta página ]Inheritance Tax Avoidance. If your estate is large enough Uncle Sam will take a ... millions of dollars of your assets from this onerous inheritance tax. ...
www.sflawoffice.com/practice/inheritance-tax-avoidance-lawy... - 6k - En caché - Páginas similares


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Note added at 8 mins (2009-02-04 20:08:47 GMT)
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or "shall be taxed as onerous inheritance"!

Edward Tully
Local time: 14:52
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 92
Login to enter a peer comment (or grade)

14 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
shall be taxed according to the (Spanish) Property Tax Transmission (TPO) provisions


Explanation:
Explanation:
In Spanish the term "oneroso" is often equivalent to the English onerous (excessive, more of a value judgement here) but also can be more along the terms of the English "good and valuable consideration" (a good or service subject to expense for its enjoyment, see Black's); this is fairly common in many civil law jurisdictions... In Spain property exchanges are taxed (like almost everywhere!), and in the case of the purchase of a second hand (ie re-sale) property, a transfer tax of 7% is applied to the official purchase sum. This tax is not the same as Value Added Tax, which does not apply to second hand property, which I am guessing might be the point of the doc you are translating...
Suerte!

--------------------------------------------------
Note added at 14 hrs (2009-02-05 10:53:35 GMT)
--------------------------------------------------

Thus, in this case the tax to be withheld is the Transfer Tax in its variant of Property Transfer Tax (TPO).

Here are some links that might help:

http://www.rimontgo.es/en/information/services/expenses-mort...
http://www.absa.co.za/absacoza/content.jsp?/Home/Personal/Ho...
http://barcelona-properties.com/taxes and fees.pdf



--------------------------------------------------
Note added at 26 days (2009-03-03 08:35:55 GMT) Post-grading
--------------------------------------------------

Glad to have helped! :)

wordgirl
Italy
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Many thanks to you both.
Login to enter a peer comment (or grade)




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