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28/10/2007 - Paul Lewis
- Question - Wealth Tax.
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Hello
After reading your Spanish taxation guide, I have concerns that
I have not paid Wealth tax on my holiday property in Spain. I
own an apartment in Galicia which was purchased off-plan in 2002
and the escritura signed in November 2004. The property was
purchased for 124,000 euros and is now valued at 240,000 euros.
As non-residents, how do I pay this tax? I am concerned that I
have not been contacted officially by the authorities to pay
this tax. Please advise how I should proceed.
*** In addition I have a
mortgage of 60,000 euros against this property - I currently owe
56,000 euros. Is this deductible from the taxable value?
Any
assistance would be much appreciated.
With thanks and regards.
Paul Lewis
email:
paul.lewis@uk.nestle.com
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