[Anonymous]

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.

[Anonymous]

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

[Anonymous]

Hi

I’m non resident.

Many thanks this has answered my question.

Thanks

[Anonymous]

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!

[Anonymous]

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.

[Author]

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