Ask a Lawyer – As a non-resident property owner do I have to pay income tax in Spain?
I am paying taxes in UK where I am resident, I also pay the local rates for my Spanish house and I have been told that I must pay Income Tax in Spain; Is this correct? Should I pay Income Tax in Spain even if I am not a resident in Spain and do not [...]
Spanish Mortgage tax relief to go in 2011, making average home 21,000 Euros more expensive
The Spanish government has announced its intention to discontinue mortgage tax relief starting in 2011. Experts warn that, on average, this will add another 22,000 Euros on to the overall cost of buying a home in Spain.
Tax hikes to increase average cost of new property by 2,000 Euros
The takes hikes announced by Spain’s Socialist government will increase the cost of the average newly-built property by 2,000 Euros, thanks to an increase in VAT from 7% to 8% on new home sales. The government will hike VAT (known as IVA in Spain) on new home sales in 2010 to try and plug the [...]
Buyers and sellers of bargains punished by Spanish taxman
People who buy or sell bargain properties in Spain are being fined by the Spanish taxman, or even having their assets in Spain embargoed, on the assumption they are not paying their taxes.
Vendors getting slammed by inflated property sales taxes?
People selling their homes in Spain have little to cheer about these days. To add insult to the injury of having to accept prices far below their expectations if they want to sell, there is a good chance the government will tax them as if they had sold at the top of the boom. That [...]
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