Taxes in Spain

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    • #54547
      Anonymous
      Participant

      I bought a property in Spain in 2007 and I have just received a letter from the Solicitor who dealt with our purchase. The letter tells me that I owe tax which is a wealth and property tax. Does anybody know anything about this? I am led to believe that the wealth tax is no longer payable from 2008.

    • #88414
      Anonymous
      Participant

      You don’t say if you are resident or non-resident but there is info here that should answer your q’s
      https://www.spanishpropertyinsight.com/tax-and-pensions/non-residents.htm

    • #88415
      Anonymous
      Participant

      Hi

      I’m non resident.

      Many thanks this has answered my question.

      Thanks

    • #88500
      Anonymous
      Participant

      Hello Bob6

      Re: Wealth Tax:

      I was recently told by a partner at Blevins Franks that whilst the tax has been abolished, people will still have to complete an annual return for the tax, and will be issued with a tax credit for 100% of the tax due.

      Basically, the authorities want to be kept informed of an individual’s wealth each year, thereby keeping the door open for the tax to be easily re-introduced – should the government feel it needs the Wealth Tax revenue in the future!

    • #88501
      Anonymous
      Participant

      Snowy: You are absolutely correct. Once the current crises & the so called fiscal stimulus is over and the unemployment benefit that are being paid. The payback time will arrive.

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