Normally the Seller pays Capital Gains Tax (6%), VAT (12%, if applicable) and Broker’s Fees. The Buyer pays the other taxes and fees which approximate to 2.7% of Contract Price, namely:
|| Documentary Stamp Tax
|| Transfer Tax
||(To City Hall)
|| Registration Fee
|| Notarial Fee
The basis of the fee calculation is the higher of the Contract Price and Zonal Value. In most cases, Zonal Value is less than the Contract Price. Note that all transfer and registration payments have to be made by Manager’s Check.
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