wealth tax abolished from january this year

Not sure if it includes non resident

http://www.elcorreodigital.com/vizcaya/20080418/mas-actualidad/economia/gobierno-elimina-impuesto-patrimonio-200804181319.html

It does include non residents, of course.

Maria

Since January 1, 2008, your patrimony ( goods and rights less debts and loans) of a certain value, will have no direct taxes on it. I am asking the taxes people in the Law firm to write an article on this  change FYI.

Maria

INTERNATIONAL TAX FORUM FOR PRIVATE CLIENTS explains more.

Hi Scampi

The annual property tax  ?

Are you thinking of the IBI tax like the UK council tax here ?

Wealth Tax is a different tax to the IBI tax.

Tinto, I wonder if this may be what you want, is it ? I'm confused as to what you're asking.

http://www.propertiescostablanca.org/images/mod214e.pdf

EXAMPLE using 100,000€ as your escritura value:

Liquidación. Impuesto sobre el Patrimonio.

Valor - 01 = 100,000 (Escritura Value)

Duedas - 02 = 0.00 (This figure would be any outstanding mortgage or debts on the property, which would reduce your tax burden)

Base imponible y liquidable - 03 = Figure 01 minus 02, with no debts this would be 100,000

Resto - al % = 0,20 (This is the tax rate of 0.2%) Then 200.00 in next box on right, also 200.00 underneath for Suma – figure reached by 100,000 x 0.2%

Cuota Integra. Impuesto Patrimonio - 04 = 200.00 (This is 200 Euros wealth tax on the value of your property)

Hi Maria

Lifeline was asking me about this on a link I gave in another thread, Advice needed re: First Occupation License 

Could you advise, please ? Is IHT abolished 100% in the area I have bought, Guardamar, Costa Blanca as that is Comunidad Valenciana, isn't it ? I saw we appear to be in the region mentioned, see VALENCIAN COMMUNITY

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From INTERNATIONAL TAX FORUM FOR PRIVATE CLIENTS

Inheritance Tax abolition in Spain.

Yes Maria,

Thats how we see it.

A friend passed away last year in Spain, they lived there for 2 years on the Costa Blanca.

On the death his partner paid 1% of the value of the house, less the share that belonged to the bank. All in all it ended up around £400.

She was told it was a gift from the Velencian goverment not law.

M

mariadecastro

Could you let me know where your info on the abolition of Spanish Wealth Tax is documented? I do believe you, but would like to read up on it!

Thank you

Did you read this earlier, aml400

INTERNATIONAL TAX FORUM FOR PRIVATE CLIENTS