do I need pay personal income tax or any tax every yr if buy holiday home in camposol and don't rent it out use it for holidays only till move over in 10 yrs
Yes you will need to pay Non Resident tax and Suma (which is similar to UK council tax but much cheaper)
When you buy a property you will need a solicitor (best to get your own and not one "recommended" by an agent. ) Ask on this forum for ones that members have used if you don't know of any. The solicitor you use will be able to set up any taxes and give advice.
We used our conveyance solicitor to sort out our taxes and when our property paperwork was being signed we asked if there was anything else we should know that would need paying for. That way there will be no surprises.
Hope this helps.
Posted: Wed Oct 31, 2018 10:38am
Hi thankx is the ibi council tax so if we buy property and don’t come over we still need pay taxes even if no one life’s in it some say u only pay standard water and electricity chsrge
Posted: Wed Oct 31, 2018 10:46am
Helpful member
You will also have to pay 'property tax' in addition to the IBI. This is an annual tax for non residents who don't rent out their homes, and is due by the end of December each year. Some people employ other's to do this, but it's costly and I do my own. If you don't pay you will have fines and when the property is eventually sold, the government will take what is owed
Posted: Wed Oct 31, 2018 11:20am
What u pay a yr ours be a 1 bed villa value 55000
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Posted: Thu Nov 1, 2018 8:19am
Super helpful member
Non res tax maybe only about 70€ a year ibi maybe 300 we pay in 2 halves its not a lot
Posted: Fri Nov 2, 2018 8:48am
Helpful member
rma44 wrote on Wed Oct 31, 2018 10:46am:
You will also have to pay 'property tax' in addition to the IBI. This is an annual tax for non residents who don't rent out their homes, and is due by the end of December each year. Some people employ other's to do this, but it's costly and I do my own. If you don't pay you will have fines and wh...
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...en the property is eventually sold, the government will take what is owed
We bought a property end of November last year and we haven't paid our NRT yet. I know how to work it out. But I have no idea how I go about paying it without involving our solicitor. His fee would be more than the tax itself so I am keen to do this myself. Can you explain how (or post a link) you go about paying your NRT and filling in the 210 form, rma44 Thanks in advance.
Posted: Fri Nov 2, 2018 9:30am
If rented we pay tax or just tax on tent
Posted: Fri Nov 2, 2018 11:05am
Helpful member
joolz55 wrote on Fri Nov 2, 2018 8:48am:
We bought a property end of November last year and we haven't paid our NRT yet. I know how to work it out. But I have no idea how I go about paying it without involving our solicitor. His fee would be more than the tax itself so I am keen to do this myself. Can you explain how (or post a link) yo...
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...u go about paying your NRT and filling in the 210 form, rma44 Thanks in advance.
Hi. With many properties, the amount you pay in tax will be much less than then fee charged to do it! The actual figure is derived from the Catastral value of your property and that will be found on your IBI statement.
If you google 'Form 210', you will find all the relevant information from the government agency in English. I always print out my completed forms and take them to my Bank and get them to pay it. That way you get a written receipt straight away. You can pay online, but I chose to do it the other way.
Don't let the solicitors etc rip you off. Good luck
Posted: Fri Nov 2, 2018 12:39pm
Helpful member
Thank you. I read somewhere you have make sure you're registered with the tax office and the form 210 has to have an official stamp on it before pay at the bank. Is this correct?
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