Advice on Wealth Tax

[Lady Pollenca]

Hi
Does anyone know how the wealth tax is calculated, and more importantly how you get the relevant form to pay and declare it? not too ssure of the rules any advice from ex pats would be a great help, thanks in anticipation!

 

[mallorcaboy]

Ana de la Cruz calculates my wealth tax every year and just sends me the bill which has to be paid by October I think.
I think the calculation is done some how depending on amount of properties owned and the amount of rates you pay. Sorry can't be more helpful. I think it is for non residents only, but I will find out in August when we apply for residencia

 

[Lady Pollenca]

Tax

Thanks for your reply Mallorcaboy.
I know there is a wealth tax and another tax payable (but cannot remember the name), hate to be the bearer of the bad news but whichever is the higher I think is payable by residents and non residents alike.

 

[translatorman]

Re: Tax

Hi

Does anyone have contact details for someone who would handle these matters for us? I think before the board got ambushed there was info about someone at a video shop who specialised in handling tax for non-residents?

 

[Lady Pollenca]

Re: Tax

We had a word with the solicitors we used in PP, got to say haven't organised anything yet but a guy called Tony who I think is a partner at the solicitors De la Cruz & Coll can deal with any tax liabilities, queries etc for you.

 

[chelseadons]

Wealth Tax

The Wealth Tax has to be paid by homeowners and is set against letting revenues. Unfortunately as the Spanish Government is convinced everybody is letting their apartments and not declaring it they insist on taxing everybody irrespective of whether you let or not !!

Tony De la Cruz and Oscar Coll can represent you if you wish. The Tax is .2% of the value of your property, which is net of any mortgage payments. If you actually declare letting revenue its more complex !!

Chelseadons

 

[Roy and Katie]

Re: Wealth Tax

We have just paid ours and it is more like 0.4% of the value. We don't let.

Roy

 

[Lady Pollenca]

Wealth tax

Hi Roy and Katie
Glad to hear your'e all paid up and above board! We haven't paid ours yet, can I ask did you calculate the tax yourself and if so where did you obtain the relevant paperwork? Or did you use an agent?

 

[Roy and Katie]

Re: Wealth tax

We used an agent recommended by our lawyer. We can give you details if you wish.

I believe that the tax is made up in various bands, and is not a straight percentage. I don't have any more details.

You have a year to file the return and pay the tax, so 2004 tax needs to be paid by the end of this year.

Roy