Tax authorities impose a reference value on real estate | El Confidencial

Adrián Boix, an associate in the tax department of the firm, talks in this article in El Confidencial about the new reference value that the Treasury has been applying to real estate since 1 January 2022. The reference value, created by the Administration itself, is an objective estimate that puts taxation on the table in relation to real estate, and has become a source of problems a year after its approval.

Thus, our expert on the subject points out: “The taxpayer must necessarily self-settle the tax according to this reference value if he wants to avoid penalties. However, he can challenge the liquidation, or request the rectification of the self-assessment presented, challenging the reference value of the property. To do so, the taxpayer must provide evidence that the reference value is above the market value, essentially an expert valuation”.

Read full article.