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Global Newsphere > Business > How to Avoid New Penalties for Second Homeowners
How to Avoid New Penalties for Second Homeowners
Business

How to Avoid New Penalties for Second Homeowners

March 10, 2025 2 Min Read
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New fines for second homeowners in Spain

As of 2024, Spanish tax authorities (“”Hacienda“) They are cracking down on people with undeclared property that is not used as a primary residence.

Owners who fail to declare empty property will face a fine of up to 150% of their outstanding tax amount, depending on the severity of the case.

All properties must be declared whether they are rented or available.

Property owners must declare their rental income as capital gains, but vacant properties must be registered as unused and taxed at 2% of the “cached value.” Underground value teeth Spanish tax authorities are a lower official estimate of the value of your property that the owner uses to determine the amount of taxes to pay based on the property type. Now the owner is attacked by tax based on 2% of this value (or 1.1% (for updated properties).

Regarding fines

Spanish tax man does so Being punished Property owners who do not follow this rule. Fines range from 50% to 150% of the outstanding tax amount. The severity of the fine depends on the circumstances of the incident. A lower fine will punish mistakes, while malicious or intentional omissions will result in higher penalties.

Whether it collects dust or rents, make sure you declare it or risk being slapped at Up to 150% fine

See also  Sweden – euro vs krona

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