Will I get charged extra taxes after I have bought a property in Spain?

This is a major concern of potential purchasers at the moment. Some newspapers have been publicising the possibility of complementary tax.

This tax is sometimes levied after a purchase where the stated purchase price is less than that of the Spanish Tax Authority’s calculation. It is not a new tax and you should be informed that it’s a possibility by your solicitor.

Recently reviewed valuations have helped to bring this tax down. However, if you do buy a bargain property in Spain you need to be sure what the tax might be if you are charged it at a later date.

You can appeal in a specified window and the majority of appeals have been successful. It certainly shouldn’t be something to put you off buying. As a purchasers of cheap property, you just need to be aware.

Information supplied by ABACO Advisers