What is the TAX for then if it has nothing to do with any alledged Wealth

It is a tax on your assets. It changes very little with regard to the supposed resale value of your property.

Out the free beer thread..... HERE

Hi
Does anyone know what has happened to the Oracle? Is it still printed?
Ta

Thanks for that the site certainly is informative

No probs, a wealth of good stuff in the Free Beer thread for a couple of years now and more added when found. ;-))

This link explains it all and was very helpful to us!!

http://www.spanishpropertyinsight.co...-residents.htm

We picked a copy up last week so its still about. Try down at the Absolute Furnishings shop (Nearly opposite the ferry to VR) or the English shop (opposite the Theatre) they generally have them in along with the Portugal news.
I'm always up for a freebie

New edition should be coming out 1st week of december, a few distribution points are Isla Canela Tours (Marina Isla Canela), Eurosurprise (Near Ayamonte´s fishmarket) , Ayamonte Tennisclub, Beach Bar La Sonrisa, Outback Inn.

If anyone´s coming over for Christmas The following places are staying open during the wintermonths:
The Outback Inn, El Otero, Pub Neptuno, La Bretagne. La Sonrisa (on the beach, but closed from Dec.21st to Jan.8th) will have Live music on the 10th of January. (T-Bag!)

The FREE BEER section gives misleading advice about Wealth Tax IMHO.

The advice states your Wealth Tax calculation should be based on the Valor Catastral figure. In fact you should normally base your calculation on the value in your deeds, i.e. the declared value at last change of ownership. The Valor Catastral figure is only used if it exceeds the value stated in the deeds; you are supposed to use the higher figure of the two. This is all explained on the notes that come with form 214, albeit in Spanish. If your property is registered in joint names then you each pay Wealth Tax based on half the property value.

Deemed rental income tax IS based on the Valor Catastral figure, not the declared value.

Maybe you are right and if you feel you know more about Spanish law than the Abogado maybe you should query the information posted on his site then.

John & Kath,

Thanks for the info.

Duncan, I have PM'd the details of Liz and Dennt to you.

George

Based on recent personal experience, I can confirm that del.Almendro is right re the property value to be used for wealth tax (patrimonio) purposes.
iant

I agree

This is what is printed on Modelo 214 with reference to figure to be used for wealth tax purposes.

Para la valoracion de la vivienda se computara el mayor de los tres siguientes

Valor catastral que figura en el recibo del impuesto sobre bienes impels del year al que se refiere la declaracion.

Valor comprobado por la administration a efectos de otros tributes.

Precio ,contraprestacion o valor de adquisicion.


Rough translation

For the valuation of the house the MAJOR of the three following ones would be computed .

Cadastral value that appears in the receipt of the tax on goods impels of year to which the declaration talks about.

Value verified by administration with the object of others you pay.

Price, return or value of acquisition

So house price as mentioned in escritura would most probably be greatest unless ther is a fidddle going on with CG tax.

Chevy,

I have a deposit on one of these apartments also. From conversations with my lawyer and TASA they have been trying to refinance for some time. They claim they have not issued all of the Bank Guarantees for that reason, although that is another matter. I am told they have managed to refinance a development in Morocco which was key to their survival but they still obviously need to do the same at Esuri to be able to finish the phases they have started.
I was there in October and there was maybe a dozen or so workers on site so not really much activity considering the amount of work still outstanding. I have some pictures of the site if you are interested. The site office was open sporadically when we were there. Also they have indefinately postponed all of the other phases. Phase 1 completion is due 1st Q 2009 plus the 3 month allowance making it due finally on the 1st of June 2009. Not sure about Phase 2.

I would not be at all surprised if they had stopped work completely.

Hope this helps.