Good news for non-residents owning property in Spain. As from 2008 the Patrimony-Wealth Tax is being abolished. As Veena from Different2 wrote to her clients:
An important modification to Spanish Law now applies to you as non-residents. In the Economic Stimulation Programme approved by the Spanish Government on 18th April, 2008, the obligation to present patrimony tax declarations has been withdrawn from 1st January, 2008 (among other modifications relating to such things as IVA). This is an attempt by the Government to contribute to increasing the attraction of investing in Spanish property. Thus, you are still obliged to present your declaration for 2007, but in 2009 you will no longer have to present one for 2008.
Veena goes on to say “We are sure you will agree that this is a positive step in promoting the benefits of having assets in Spain, and every little helps!”
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment