New report claims more than half of rental income not declared in Spain

New report claims more than half of rental income not declared in Spain
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By h.b. - Nov 26, 2009 - 6:24 PM
It would mean more than a million undeclared rental incomes across the country

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A study carried out by the GESTHA collective of technicians in Hacienda has established that more than half the incomes obtained from rental accommodation are not declared. The amount lost to the taxman has been put at 2.45 billion € a year, with the fraud most commonly found in Cataluña, Andalucía and Madrid.

The report does not include income from the rental of garages, shops or offices.

Gestha claim that the tax authorities are failing to take advantage of new anti-fraud legislation introduced three years ago, with Gestha General Secretary, José María Mollinedo, describing the current system as ‘very bad’ and saying that new measures are urgently needed.

However the main bosses in Hacienda doubt the accuracy of the claim, saying the numbers, based on data from 2007, do not add up, and would mean that there are more than a million undeclared rental incomes across the country.

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