"the truth at last "

Hi

I don't know if this is the same thing but my neighbour had to pay 800euros of Plus Value Tax.

She wasn't happy either but it seems its legal.

June

Hi All

We went down to see Lola at Costa on Line at La Manga on Wednesday, she was helpful as ever. The extra Plus Valia on this occasion has nothing to do with MASA it has been intoduced by the Tax office and it is a legitimate 1% tax that has been added to the overall cost.

regards to All

Nice to meet Bobby49/50 and Denis & Sue on Tuesday - flying visit made to try and arrange 'the signing'.

Mags and Loz M14-44 

When we signed in January we were advised we needed the money for the solicitor from Atlas and it was only just before we flew out they called and said when we signed at the notary which is in Elche, (Masa seem to use this one). We needed 500 euros in cash, but when we met the rep at the airport who took us about,  he had been told by his boss it was 800 euros.

So we made sure we had the monies in cash for the Friday and because we arranged a Spanish mortgage the bank rep was also there she showed us two cheques and we did not keep up with translations. then we stood with our cash in hand waiting to pay in the notary office, to then be told the bank had paid,  that was what the other cheque was for.  It was a tax but could not work out which one as we were told about lots.                So it would seem it is legal.

Den and Trisha  

Hi. When we signed we had to pay 800 euros they called it plus value tax. its a tax on the profit on the land

Jackie & Steve

Hi All,

The extra payment is the plusvalia tax, a tax levied by the Regional Government onto land purchased by the developing company, in this case, Grupo Masa. As I understand it, it is levied on the increase in value of the land from purchase to when it was sold (i.e. per property sale), and I believe that GM purchased the land in 1986, so it was bound to be a relatively significant figure.

Although the tax is due from the developer, the developer sometimes passes it on to the property purchaser (i.e. you & me), and if you look at your Contract with GM in section (f), your will find that they have included the figure to be paid by us all on completion. Would you expect anything else from GM?

John B.