Re: IVA

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Anonymous
Participant

Extract from a letter sent by lawyer…………

“That our clients are STILL interested in signing these properties, since they have already paid a deposit and the VAT on the mentioned properties
even though officially and according to Spanish Legislation – purchasers do not have to pay the full VAT until the Title Deeds are signed.

In this case, proprietors had signed promissory notes in a private contract with ***** through which the full VAT would be paid even if the property was not complete at this time”

Hope this helps.

Most articles state that property related taxes are to be paid within 30 days of signing deeds.

Looks like common practice for OV to charge the full VAT see……

post by bcollins

http://www.manilvalife.com/forum/viewtopic.php … c&start=16