Declared Value

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This topic contains 3 replies, has 4 voices, and was last updated by Profile photo of Anonymous Anonymous 10 years, 10 months ago.

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  • #51516
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    Anonymous
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    Having been house hunting for over two weeks now I am astonished to learn that builders are declaring in most cases only 60% of the price of a house thus forcing would be buyers into breaking the law and commiting tax fraud. I had understood that the Spanish government was cracking down on this but it would seem not. đŸ˜¯

  • #60698
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    Anonymous
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    An estate agent mentioned to me recently something to the effect that there are new regulations coming soon, I think in April, which will require submission of a copy of the compraventa (private buy and sell agreement). I understand this states the real purchase price rather than the lower declared price on the public deed (escrutura). Presumably this is to deter under declarations. Perhaps a solicitor or agent on this forum will be able to confirm if I am correct and if so the precise details.

    Mike Grant

  • #60765
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi there

    Have a read of this post which discusses black money – basically it is fraud. The new law will be coming in by June – or so it is said. However many haciendas are taking their own action and fining people who have under decalred (and leaving it down to them toprove they didnt – whatever happened to innocent until proven guilty).

    Anyway beware!

    Vince

    http://spanishpropertyinsight.com/forums/viewtopic.php?p=2380&highlight=&sid=2efd14ea643f235b81b9c72afd782b14#2380

  • #60766
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    Anonymous
    Participant

    As I recall the tax office has a certain period, possibly 2 or 3 years, during which they can claim taxes on a higher purchase price if they feel the declared one is too low. This certainly apllied for land purchases in the Canarz Islands.

    Terry English

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