Re: under declaring

#62277

Anonymous
Participant

Yes Tim, it seems that under declaring is common practice in Spain but in our case the buyers of our propery will definitely not pay any cash and want the declared value on the escritura to be what they actually pay for it. This is so they do not get caught in the undeclaring trap when they come to sell in the future. So if we want the sale to go ahead we have to accept their terms or lose the sale and we take an enormous hit on the capital gains tax. I still would like to know what happened to the 7% iva I paid on the full price.