A mortgage can reduce the Wealth Tax and Inheritance Tax
When you purchase a property in Spain, you should be aware that there are tax implications, especially for properties of a certain threshold, were in most cases you will have to pay Wealth Tax each year. In some areas of Spain Wealth Tax is more than double the European average!
Mortgages can allow you to reduce both the Wealth Tax and the Inheritance Tax, as they are considered a debt and reduce the taxpayer's net worth. Therefore, obtaining a mortgage for the purchase of a property in Spain has positive repercussions from a tax point of view.see wealth tax deductions