25 May

Higher Transfer Tax upon Property Purchase Featured

By 

complementaria foto

The Supreme Court in a recent ruling dated 23 May 2018, has determined that property valuations for Transfer Tax purposes can not be calculated by simply applying a multiplier to its Cadastral value, shifting the burden of proof to the taxpayer who would have to prove (if the property presents singularity) that the value differs from the one quoted by the authorities.

In the present case, using a multiplier is too generic and does not take into account neither location, condition or planning situation and therefore the real value, unless the authorities carry out an individualized assessment.

Lastly, the Supreme Court confirms once again that the taxpayer does not necessarily have to undertake an assessment of the property and in order to refute the value given by the authorities any admissible proof shall be acceptable.

We have won for years numerous appeals against the Tax Office in similar cases and would be happy to hear your case.

 

Last modified on Friday, 22 February 2019 21:53

Newsletter

Keep informed about our news.
Stay calm, we do not spam!

Contact Information