Withholding tax (buying and selling)
If you buy a property from a non-resident (person or a company), when you prepare the checks for the payment of the purchase price, you must make a check out equal to 5% of the purchase price stated in the deed to the name of the Spanish Treasury (Tesoro Público), This amount is then withheld from the purchase price and you will have 30 days to pay it to the “Tesoro Público” in the vendor’s name (for 211). You will then give the original of the 211 for to the vendor for his tax statement.

This means that you will pay 95% of the purchase price to the vendor, and 5% to the Spanish Treasury.