In a direct effort to reduce the amount of ‘black money’ and tax evasion on the transfer of ownership of moorings the Balearic government, in conjunction with the tax authorities, has published a list of fixed prices of moorings throughout the islands.
The transfer of ownership should attract two separate taxes.
ITP (transfer tax, as required by any real estate deal- 7%- payable to the local government)
Capital gains tax (calculated by gain, length of ownership as well as different rates for residents and non-residents- payable to the tax authorities)
By fixing a minimum price the tax authorities have said that any transaction with a lower declaration will be immediately investigated.
For example a 20 by 6 metre berth in the Club de Mar is valued at 249.395 Euros whilst a similar berth in Puerto Portals is rated at 552.180 Euros.
Because of the tax office’s jurisdiction it is possible for them to demand figures on transactions 5 years in arrears.
See ‘moorings prices list’.