Tax Agency crackdown on undeclared housing rentals.
The Spanish Tax Agency launched its highly anticipated 2015 income tax campaign last Wednesday, the 6th. To this end, it provides users with information on its website about the income it is aware of and obtains from various economic actors (companies, banks, notaries, etc.).
Individuals who pay rent for the use of a dwelling, whether for their primary residence or for temporary enjoyment, are not required to communicate any type of data to the Tax Administration in relation to it, with the exception of the cadastral reference of what constitutes their primary residence.
This lack of knowledge on the part of the Administration regarding the amounts actually paid to the owners does not exempt them from their declaration.
In this 2015 tax season, there are some changes regarding this type of income, such as the relaxation of the conditions for it to be considered an economic activity (the requirement to have premises exclusively dedicated to the activity is eliminated, although the requirement to employ a full-time worker for its management remains) and the elimination of the 100% reduction of income for tenants between 18 and 30 years old with net income from work and/or economic activities exceeding the IPREM (Public Indicator of Multiple Effects Income). However, the general 60% reduction is maintained.
Thus, it is tempting for some taxpayers, since the Tax Agency is unaware of the amounts received or even whether such income exists, to evade their taxes. For this reason, the Tax Agency warns of this fraud and alerts taxpayers to its ability to obtain information. It even issues deterrent messages such as: "According to the data available to the Tax Agency, you have advertised rental properties in various media, including the internet," to discourage such temptations.
But don't give up on reducing your tax burden within the law, by applying all the legally established deductions, being attentive to the possible application of more favorable transitional regimes, or simply by correctly declaring your real estate income, which will save you future problems.
Let yourself be advised by expert professionals in the field who will look after your interests and inform you properly: Ambit Assessor will open its campaign to serve you in the months of May and June.
Alicia Conesa,
Tax Area
Àmbit Assesor
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A Àmbit Assessor, SL has 40 years dedicated to the tax, comptable and labor consultancy of the Pime.
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