Owners who sell their homes below the market price risk fines of up to 100,000 euros,” announces the Treasury. The Fiscal Agency is determined to sanction property owners who sell their homes below a certain percentage of their market value, with substantial fines and even prison terms.
According to information provided by the Treasury, all financial transactions are closely monitored and the sale of a home attracts significant taxes. Normally, owners want to get the best price for their property, but there are cases where they decide to sell it at a token price to avoid paying taxes.
According to the tax agency, the sale price is decisive in this context, and if it is substantially lower than the market value, the operation can be investigated for possible crimes. This is especially true in cases where transactions are carried out “in the dark”.
The Tax Agency has established penalties proportional to the degree of undervaluation of the property sold:
If the sale price is below the real value of the home by less than 10%, the owner can be fined between 1,000 and 10,000 euros. If the decrease in value is below 5%, it is considered a serious violation, the sanctions ranging between 20,000 and 100,000 euros, with the possibility of being accompanied by prison terms from 6 months to 2 years.
These measures were taken to prevent tax fraud and money laundering through real estate transactions. Prospective sellers are advised to be aware of the true value of their property and to comply with current tax legislation to avoid severe penalties imposed by the Treasury.
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Tags: Spain Owners sell properties market price risk fines euros
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