Hi, I completed November last year so I don't have to file my return until later this year. My solicitor are dealing with this. From memory you will get a valuation letter this month, that needs to be forwarded to your solicitors.
If it is any help mine are charging me 70 euro to do the return
fiscal.vera@mamsolicitors.com>
A.- State taxes
Here are some guidelines about the case of a non-resident who owns just one property in Spain, which is only for his private use. Other cases, will require specialised advice by your solicitor.
* PERSONAL INCOME TAX (I.R.P.F.).
The rate applied to the result of applying this 2%, which will give us the tax base, is 25%.
* WEALTH TAX
Both taxes are paid on a yearly basis. The term for the payment goes from the 1st of January to the 31st of December every year, and the tax paid corresponds to the previous natural year.
The payment must be made direct to the Tax Office. There is no possibility of setting up a direct debit for the payment of this tax. It is the obligation of the owner, through his solicitor, to fill in the tax return and take it to the Spanish Treasury.
B.- Local taxes.
* Tax on real estate (I.B.I. or council tax).
This is a direct tax based on the value of the house. Each Town Hall Council determines the percentage to be applied to the cadaster value of the property.
This is also a yearly tax and there is the possibility -strongly recommended- of setting up a direct debit.
Raquel Aragón Extremera
Martinez-Abarca & Muñoz
Tel. 00-34-950393100
Hope that helps anita
(PATRIMONIO). The tax applied to the property amounts to 0’2 % of the value declared in the Purchase Deed. As it has been said the general case is that the property is only for private use and that, consequently, it does not generate income. In this instance it is also subject to taxation, as the sum resulting from the application of the 2% cadastral value (which appears in the yearly local rate bill or IBI), is deemed to be income..Martinez-Abarca & Muñoz - Solicitors