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Whoops.
Was this an O.V.P solicitor ?and can you show you paid the I.V.A on the total contract price ie
Do you have any document that shows the actual I.V.A paid or was it in an inclusive figure.
Dan
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Hi
This is advice from a solicitor
I've never seen this in my life and looks extremely suspicious to say the least and If I were your lawyer would advise completey against paying upfront all IVA/VAT, it's ludicrous.
In a deposit you always pay an amount of money and the proportionate 7% VAT for a new build/off-plan. But you never ever pay all the VAT upfront. No developer would or could ask for that. That's the EA meddling.
It's not illegal providing you agree to it but it's certainly not advisable. The only reason I see to doing this is that the EA is needing cash badly and has "forced" you to do this.
Did your lawyer advise or let you do this ??¡¡¡!!!
Dan
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Hi Welsh
No, rest assured you certainly are not alone we were also asked to pay it all and as novices at the time did not know any better. We have certainly learned the hard way on anything to do with you know who.
Jojan
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Hi Welsh 47, YOU ARE NOT ALONE!!!!!!!! We paid it too It was definitely shown as a seperate item on our invoice. I queried it at the time and was told this was correct proceedure for buying in Spain. Is anyone doing anything about this that they can share with the forum?
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Been doing some digging and guess what? Came up with more info. Check out the following. Feel a right pratt!
http://www.spanishpropertyinsight.com/forums/viewtopic.php?t=1246&start=0
Plus
Inez
Joined: 11 Jan 2007
Posts: 540
Location: Marbella
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 Posted: Wed Feb 27, 2008 2:25 pm Post subject: |
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My understanding from lawyers is thats illegal! Only the iva of the paid amount is due at any given time
Why are buyers lawyers allowing this?
Might be worth informaing hacienda! - its certainly a novel way of sprucing up the cash flow!!
_________________
Quite frankly m'dear, I don't give a damn! |
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CAN I ASK ALL OF YOU WHO PAID WHICH SOLICITOR YOU USED?
Simon
This message was last edited by Welsh47 on 2/28/2008.
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This is shocking. !!! If you take the lower price of a 2bed on EBCC as 250,000€, multiply it by 7% = 17,5000€. If OV had sold 300 out of the 395 (even though they said that they had sold them all) THEN the amount they collected is 5,250,000€.. over 5 million euros. Minus the percentage of IVA that should have been collected. Their profit is a cool 3,675,000€
That's in addition to the 30% they collected on each..75,000€ x300 = 22,500,000€
Wow, no wonder they are well off..!!!
And not a blade of grass has been touched yet.!
This message was last edited by wilma on 2/28/2008.
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This subject is also being debated on SPI.. as per the posting.
I know the law here is similar to Moroccan as in normally off plan one pays stage payments as it gets built - and there could be 20 stages! Each stage has its own bank guarantee applied as well. So to pay iva on something not given or received is crazy.
I just cant see how you can pay iva on something you havent even paid for - how does the invoice get through?? And if it HAS been paid to the lawyer or developer (allegedly) then Hacienda should have a trace of it in the quarterly accounts from the developer - one way of checking it got to where it should have done.
check under the developer & IVA thread.
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