REMINDER: FISCAL OBLIGATIONS 2017
We from Bufete García Garrido would like to remind you that if you are staying in Spain for less then 6 months a year and owning one or more properties in Spain, you have the obligation of paying the non-resident tax and the local real estate tax, which is called IBI. Both taxes are paid once a year.
It is very important to consider that if a property is owned by a marriage or more than one person, each owner is an independent taxpayer and has to present it’s own non-resident tax declaration.
Temporarily, the Spanish tax authority has established the capital tax for the years 2011, 2012, 2013, 2014, 2015, 2016 and 2017. This declaration has to be presented to the tax authority when the assets and rights have a value of more than 2 Millions. However, the tax to pay is 0€ so there isn’t any payment obligation but the non-presentation of the declaration can lead to very high tax fines.