Did you pay “black money”?
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July 17th, 2011The long established tradition in Spain of paying “black money” when you purchase a property, i.e. under declaring the price in order for both buyer and seller to save tax, is started to catch up with people.
One of our clients has recently been instructed to visit the tax office in Spain, in order to provide evidence of “black money” payment made to their developer on completion. Although, in this case, it is the developer being investigated and not the property owner, it does demonstrate that the tax office is now starting to look at some of these tax evasion practices.
Give us a call or drop us an email if this has also happened to you.
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