Taxman turns attention to hidden internet property rentals
Sunday, April 10, 2016 @ 8:13 PM
As income tax drive begins in Spain authorities put focus on income from home lets.
This is not the first time Spain’s taxman has gone after undeclared income from property rental. In 2012, it conducted checks on homes that had been declared as empty, with many showing high utility consumption.
Nearly half (49.03%) of all home rentals in Spain, some 1.3 million properties, are not declared to the tax authorities. Of these, the vast majority are rented out to third parties, while 367,059 are provided free or for a low rent to a relative.
But fraud is being committed, says the Tax Agency, with officials noting that in 2008 55% of rentals went undeclared.
Source: El Pais
...................
** I've been using Transferwise to send money abroad. It's really easy and a lot cheaper than the bank! Sign up now using this link and get your first transfer up to £3000 free.**