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INTERNATIONAL - UK: Legislation this summer on register of foreign property-owners

AUSTRALIA: New tax on foreign owners of unoccupied homes

Having broached subjects from the vendor's point of view as well, it is useful to recall that the burdensome INVIM (a tax originally levied on the vendor consequent upon his sale of a property) has been definitively abolished, to the great relief of the notary as well, given not only the complexity of calculating it but also (as always) the irksome role of tax collector that the law imposed on him. Nevertheless, it is helpful to emphasize that the vendor may still have to pay certain sums

As has been seen above, in order to determine the type of tax and the amount and means of payment of the sums due for duties on the purchase of a so-called primary residence, one must first of all take into account the nature of the vendor. When the vendor is the company that built (or renovated) the property and four years have not elapsed since completion, the conveyance is subject to VAT that the purchaser must pay directly to the company and not to the notary, along with the payment o