Purchasing a property in Spain can be a complex process, especially when it comes to taxes. Here is a detailed step-by-step guide on taxes that you should be aware of when buying a property in Spain:

• VAT (IVA in Spanish): If you are buying a new property, you will need to pay VAT (Value-Added Tax) at a rate of 10% on the purchase price of the property. If you are buying a resale property, you may be eligible for a reduced rate of VAT at 4%.
• Stamp Duty (Actos Jurídicos Documentados, AJD): This tax is levied on the purchase of a property at a rate of 1.5% of the purchase price.
• Transfer Tax (Impuesto sobre Transmisiones Patrimoniales, ITP): This tax is levied on the transfer of ownership of a property at a rate of 8% of the purchase price for resale properties and 10% for new properties.
• Property Tax (Impuesto sobre Bienes Inmuebles, IBI): This is an annual tax that is levied on the ownership of a property at a rate set by the local council.
• Wealth Tax (Impuesto sobre el Patrimonio): This is an annual tax that is levied on the net wealth of individuals who own property in Spain. The tax rate varies depending on the value of the property and the individual’s tax residency status.
• Non-Resident Income Tax (Impuesto sobre la Renta de No Residentes, IRNR): If you are a non-resident of Spain and you rent out your property, you will need to pay income tax on the rental income at a rate of 24.75%.
• Capital Gains Tax (Impuesto sobre el Incremento del Valor de los Terrenos de Naturaleza Urbana, plusvalía): This tax is levied on the capital gain made from the sale of a property. The rate of tax varies depending on the municipality where the property is located and the length of time that the property was owned.

It is important to note that these tax rates and rules may change over time and may vary depending on your individual circumstances. It is always best to consult with a tax professional or a lawyer before purchasing a property in Spain to ensure that you are aware of all relevant taxes and obligations.