News
Reverse Mortgages
Tue 22 Apr, 2008
Hans von Rotenhan It’s often the case that older people who have long since paid of any mortgage on their homes want some more disposable income than their pension might provide them with. Local banks have also noted this phenomenon and have begun offering ‘Reverse Mortgages’.
Living Will
Tue 22 Apr, 2008
Hans von Rotenhan Until recently, the idea of a living will, which outlined a persons wish not to be resuscitated, did not exist in Spain. This included cases where the patient was terminally ill.
Bankruptcy administrators confident about their future
Tue 06 Nov, 2007
Hans von Rotenhan The recession is definitely on its way.
Tax declaration for residents
Tue 23 Oct, 2007
Hans von Rotenhan It's a fact that everyone who is a resident of Spain has to declare their complete income here.
Plus Valía
Thu 11 Jan, 2007
Hans von Rotenhan The Plus Valía is a community tax that has nothing to do with the increase in the purchase value of a property, but rather is calculated using the change in the price as given in the land registry since the last change of ownership.
Taxation on Property Sales
Wed 10 Jan, 2007
Hans von Rotenhan Until recently, when non-residents wanted to sell their property, they would take 5% from the purchase price from the buyer and give it to the Spanish tax authority as a pre-tax.
Inheritance Tax
Wed 10 Jan, 2007
Hans von Rotenhan The local Balearic government have come through on one of their campaign promises. Namely, to reduce the level of inheritance tax to as low as 1%, based on the degree of kinship.
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