Wealth Tax on Spanish property

This topic contains 16 replies, has 6 voices, and was last updated by  Anonymous 10 years, 5 months ago.

  • Author
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  • #54086

    Anonymous
    Participant

    Hi,

    I saw somewhere on this forum and also read on a newspaper at the weekend that the Spanish Wealth Tax was discontinued from 1st January 2008 – is this correct? I questioned this with my solicitors and they said no this is not correct – any body through any light on the subject?

  • #84320

    Anonymous
    Participant

    From what I have read, it has only been abolished in some areas of Spain. It is still payable (at the moment) in Andalucia (sods law says it’s where we bought ๐Ÿ™‚ ).

    Taking it off thread slightly, it has also been said that certain expenses can now be off set against rental income by non- residents now, that is how I understood a posting in another forum by a lawyer.

    Mark

  • #84120

    Anonymous
    Participant

    From what I have read, it has only been abolished in some areas of Spain. It is still payable (at the moment) in Andalucia (sods law says it’s where we bought ๐Ÿ™‚ ).

    Taking it off thread slightly, it has also been said that certain expenses can now be off set against rental income by non- residents now, that is how I understood a posting in another forum by a lawyer.

    Mark

  • #84323

    Anonymous
    Participant

    Hi Mark,

    Thanks for that.

    Angela

  • #84123

    Anonymous
    Participant

    Hi Mark,

    Thanks for that.

    Angela

  • #84325

    Anonymous
    Participant

    Wealth tax is no longer applicable from 1 January 2008.

    The last return due is for the 2007 calender year.

    I did think that this only applied to residents, however I have been assured it also applies to non residents as well.

    As for allowing expenses against rental income could you pm me the forum as i was unaware of this.

  • #84125

    Anonymous
    Participant

    Wealth tax is no longer applicable from 1 January 2008.

    The last return due is for the 2007 calender year.

    I did think that this only applied to residents, however I have been assured it also applies to non residents as well.

    As for allowing expenses against rental income could you pm me the forum as i was unaware of this.

  • #84326

    Anonymous
    Participant

    Hi Angela

    You find all you need to know on wealth tax on this site follow

    https://www.spanishpropertyinsight.com/tax-and- … th-tax.htm

  • #84126

    Anonymous
    Participant

    Hi Angela

    You find all you need to know on wealth tax on this site follow

    https://www.spanishpropertyinsight.com/tax-and- … th-tax.htm

  • #84334

    Arthur Stuttard
    Participant

    As I understand it, it is only the patrimonio (wealth tax) which is being abolished.
    We will still be liable for tax on the notional income we could have received had we let the property, and will still have to make a tax return.

  • #84130

    Arthur Stuttard
    Participant

    As I understand it, it is only the patrimonio (wealth tax) which is being abolished.
    We will still be liable for tax on the notional income we could have received had we let the property, and will still have to make a tax return.

  • #84344

    Anonymous
    Participant

    Hi,

    Thanks for replies – I did read it here and also in the Sunday Business Post in Ireland – informed my solicitor and their reply was that there is a lot of confusion about this and that it has not been verified yet. Is there any official authority or website that I can check this with – as my solicitor is doubting me.

    ๐Ÿ˜•

  • #84135

    Anonymous
    Participant

    Hi,

    Thanks for replies – I did read it here and also in the Sunday Business Post in Ireland – informed my solicitor and their reply was that there is a lot of confusion about this and that it has not been verified yet. Is there any official authority or website that I can check this with – as my solicitor is doubting me.

    ๐Ÿ˜•

  • #84353

    Anonymous
    Participant

    http://www.minhac.es/Portal/Prensa/En+Portada/2008/El+Gobierno+aprueba+un+plan+de+medidas+de+estimulo+economico.htm
    There is probably more out there but don’t have time to search rght now!

  • #84140

    Anonymous
    Participant

    http://www.minhac.es/Portal/Prensa/En+Portada/2008/El+Gobierno+aprueba+un+plan+de+medidas+de+estimulo+economico.htm
    There is probably more out there but don’t have time to search rght now!

  • #84355

    Anonymous
    Participant

    Were I to have the misfortune of using such an idle and ill informed solicitor I would tell him to get off his ar*e and do some research.

    For which he is paid, and you are not!

  • #84141

    Anonymous
    Participant

    Were I to have the misfortune of using such an idle and ill informed solicitor I would tell him to get off his ar*e and do some research.

    For which he is paid, and you are not!

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