The Property Taxation in Mallorca

Before you decide to settle in Mallorca , you should obtain expert advice regarding Spanish property taxes. The Spanish tax system is complicated. It is not so much the level of taxes that is burdensome as the number of different taxes for which individuals are liable. Taxes are levied by three tiers of government in Mallorca : central government, autonomous regional governments and local municipalities.

Mallorca Apartments do have the same taxation like mallorca villas when buying properties in Spain.

Most taxes in Spain are based on self-assessment, meaning that individual taxpayers are liable to report and calculate any tax due within the time limits established by law . Tax forms can usually be purchased from a tobacconist´s (estanco), although some are available only from tax offices (agencia tributaria).Late payment of tax bill usually incurs a surcharge of 20 per cent. Note that there is a five-year statute of limitations on the collections of taxes-if no action has bee n taken during this period to collect unpaid tax, it cannot be collected.

FREE PROPERTY ADVICE

You can get free advice from the information section (servicio de información al contribuyente) at your local provincial tax office in Spain, where staff will answer queries and assist you in completing your tax declaration ( but won´t complete it for you). Some offices, particularly those in res ort areas, have staff who speak English. Find the best Mallorca Properties

The tax office provides a telephone information service (0034 901 335 533). If you need information about income tax and VAT refunds or need to order tax labels, there is also an au tom atic telephone service ( 0034 901 121 224 ) . The fax office has a web site ( www.aeat.es ), but few pages are in English so you will need to speak Spanish to understand most of it.

Free Property Tax Advice in Mallorca: Mr. Julio Morell Cuesta_ +34 971 71 94 09 Independent Tax Advisors in Palma City.

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