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-   -   Advice on Wealth Tax (https://www.forum.puertopollensa.com/living-working-pollensa-area/1824-advice-wealth-tax.html)

Lady Pollenca 01-08-2005 07:31

Advice on Wealth Tax
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 01-08-2005 15:36

Re: Advice on Wealth Tax
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 04-08-2005 05:24

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 18-09-2005 05:58

Re: Tax

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 19-09-2005 06:04

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 26-09-2005 19:30

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 !!


Roy and Katie 07-11-2005 02:30

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


Lady Pollenca 08-11-2005 08:27

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 09-11-2005 03:17

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.


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