What does transferable tax mean?

Transfer tax, known as Impuesto sobre Transmisiones Patrimoniales in Spain, is an indirect tax that in Spain is managed by the autonomous communities.

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Transfer tax

Transfer tax — known as Impuesto sobre Transmisiones Patrimoniales or ITP in Spain — is an indirect tax that in Spain is managed by the autonomous communities.

Transfer tax is levied on the movement of goods and rights and the expenditure of money on certain types of purchases. In the case of second-hand purchases, transfer tax is applied instead of VAT.