Wealth Tax

Hi can anyone help read in the costa del sol news that wealth tax was abolished however, my solicitor has asked me for 1102 euro broken down as 520 wealth tax, 382 income tax and 200e lawyers fees, i only purchased november 2006 and paid 796e then, i now have in top of this been asked to pay 1185 euro for council tax a shock 2537 to pay before the end of year and this doesn,t take in my community, electric and water fees, can anyone help advise,

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Wealth Tax has been abolished with effect from Jan 2008 BUT as we pay it in arrears the bill you have received from the solicitor is for 2007.  

Renta (some people refer to this as income tax) will still have to be paid each year.

When you purchased in Nov 2006 you would have paid a full years Wealth Tax the following year but only a proportion of the Renta.  I bought in Oct and that's what happened to me (grossly unfair I know)

Your council tax (IBI) is probably a combined bill for 2007 and 2008, suggest you ask for confirmation.  IBI is paid by whoever owns the property in January each year so none would have been payable in 2006.


Keep checking the papers as Wealth Tax brings a large chunk of income for each region, most people think it will be resurrected in another form.

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