The budget of the Balearic Islands in 2013 brought many tax increases

The real estate tax increases again, the property tax for residents will be reintroduced, the money laundering law is strengthened and further tax increases in Mallorca.

The Spanish money laundering law was tightened: Business shall not perform business transactions with values ​​more than 2,499.99 € in cash. It is now forbidden Spanish businessmen, business transactions of 2,500 € and above settle in cash. Violations are punishable by fines of between 25% and 100% of the payment amount. Any public official (such as a notary or lawyer) who becomes aware of a violation of the permissible amount, is required to report it immediately to the tax authorities. The limit for cash payments increased to 15.000 €, if it is at the payer for any taxable person or entity in Spain.

The purchase of real estate companies will no longer be exempt from the real estate transfer tax. The ability of the land transfer tax exemption on the purchase of shares of a real estate-SL was abolished with immediate effect. Exception to this rule is still the acquisition of commercial businesses (eg hotels, restaurants, etc.), even if the company's assets consists primarily of real estate ownership. 

Within a few months also the real estate transfer tax (impuesto de transmisiones patrimoniales para inmuebles, ITP) is increased once more. Affected is initially only the lower price segment where the tax is to be raised from the current 7% to 8% in the future. The tax will be added to the sale of investment properties between individuals due, but also in the transfer of shares in a company, on the main property. Also raised the Transfer Tax (impuesto sobre Actos Jurídicos Documentados, IAJD), which arises in all notarial authentications. Buyers must therefore take 1.0 percent pay from next year 1.2 percent of the property value.

The Balearic want to introduce the property tax for residents again. As the last governments of all Spanish regions (with the exception of Madrid), the Balearic Islands will once again prove to the residents of the property tax. The property tax was suspended in 2008, and later re-introduced it last, the government has exempted the autonomous regions to levy a property tax. The allowance is € 700,000. Married couples with joint ownership are to the allowance each spouse. The tariff is progressively graded from 0.2% to 2.5%. As non-resident property owners were already used already to the property tax changes for this group nothing initially.

Wastewater charges will also be increased. It is calculated in proportion to the water consumption also a fee for the waste water. Affected are all consumers with a demand of more than 6 cubic meters of water per month. Be particularly affected are golf courses that have indeed an astronomical water consumption, but were previously exempt from sewage charges altogether.