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Author Topic: MORE TAX  (Read 982 times)

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Loben

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MORE TAX
« on: September 10, 2018 »
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I purchased my apartment in LG just over two years ago at the tale end of the recession.  It needed a complete refurbishment so I had the notary take photographs of the state on the purchase day.  I used a local solicitor and paid all the necessary taxes at the time.  I have now received a letter from my solicitor saying that the canary gov now want more tax (3,500 euros) as they feel it was undervalued at the time.  Apparently it is on the square footage of the apartment nothing to do with the state. 

I have been told that this is a common situation but I wish that I had been told at the time of purchase that this was likely to happen as I would have budgeted accordingly.  Please be warned if you are considering buying a property in the Canary's. 

Offline unhappy

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Re: MORE TAX
« Reply #1 on: September 10, 2018 »
If you purchased through an estate agent they must know of these pitfalls and I would suggest they are culpable of not informing you of these facts.

Also check if you can not offset the costs of the refurbishment against the tax you have been asked pay.

I have warned people in the past never ever trust certain estate agents over there, do your HOMEWORK when buying a property, it is nothing like buying a property in the UK.

I have actually found out since selling my property that a tax I had been paying for the last 17 years that if I had not paid the Government, they would only go back the last 5 years to claim that tax.     

Loben

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Re: MORE TAX
« Reply #2 on: September 10, 2018 »
The estate agent was brilliant and so was my solicitor.  Hence I had photographs taken by the notary at the time.   I have put through the renovation costs too.