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#42492 - 05/27/06 10:35 AM
Re: Taxes net vs gross
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Executive Member
Registered: 12/07/05
Posts: 270
Loc: Madrid
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regarding the cost of living, the biggest issue in Madrid is the cost of housing! I've been looking and its hard to find anything under a 1000 a month for a 2 bedroom apartment.
In doing my research I found that soft costs (heat hydro phone etc) are quite reasonable about half of Germany, transportation (metro etc) is dirt cheap. I haven't found out about things like insurance but I would expect they'd be cheaper as well.
Food is about the same.
I saw a thread on another board regarding the cost of living they quoted 15.000 euros a year outside of housing. That means with 12.000 a year rent you'd need in the hand 27.000 a year which means you'd need 2 incomes to live on.
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Be Canadian Eh, that's for all you American out there:)
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#42493 - 05/27/06 02:32 PM
Re: Taxes net vs gross
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Executive Member
Registered: 02/26/06
Posts: 1445
Loc: Morbihan, France
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here something for the discussion in general :of course, I do my own study anything and everything from gas to insurance to food to tv satellite subscriptions::::found out I am doing better in Europe than US. Madrid is cheaper than many German cities see below.
2005 Rank City 1 Tokyo, Japan 2 Osaka, Japan 3 London, United Kingdom 4 Moscow, Russia 5 Seoul, South Korea 6 Geneva, Switzerland 7 Zurich, Switzerland 8 Copenhagen, Denmark 9 Hong Kong, Hong Kong 10 Oslo, Norway 11 Milan, Italy 12 Paris, France 13 New York City, United States 13 Dublin, Ireland 15 St. Petersburg, Russia 16 Vienna, Austria 17 Rome, Italy 18 Stockholm, Sweden 19 Beijing, China 20 Sydney, Australia 20 Helsinki, Finland 22 Douala, Cameroon 22 Istanbul, Turkey 24 Amsterdam, Netherlands 24 Budapest, Hungary 26 Abidjan, Côte d'Ivoire 27 Warsaw, Poland 28 Prague, Czech Republic 29 Taipei, Taiwan 30 Shanghai, China 31 Bratislava, Slovak Republic 32 Düsseldorf, Germany 33 Luxembourg, Luxembourg 34 Singapore, Singapore 34 Frankfurt, Germany 36 Dakar, Senegal 37 Munich, Germany 38 Berlin, Germany 39 Tel Aviv, Israel 40 Glasgow, United Kingdom 41 Athens, Greece 41 Brussels, Belgium 43 Barcelona, Spain 44 Los Angeles, United States 45 White Plains, United States 46 Madrid, Spain 47 Birmingham, United Kingdom 48 Zagreb, Croatia 49 Hamburg, Germany 50 Hanoi, Vietnam 50 San Francisco, United States 52 Chicago, United States 52 Beirut, Lebanon 54 Riga, Latvia 54 Kiev, Ukraine 56 Ho Chi Minh, Vietnam 57 Miami, United States 58 Algiers, Algeria 59 Casablanca, Morocco 60 Tallin, Estoni
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#42494 - 05/27/06 04:01 PM
Re: Taxes net vs gross
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Executive Member
Registered: 05/06/00
Posts: 9080
Loc: Madrid, Spain (was Columbus, O...
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Let's try to keep on the topic of "Taxes net vs gross", please. Thanks!
Saludos, MadridMan
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#42495 - 05/30/06 11:56 AM
Re: Taxes net vs gross
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Executive Member
Registered: 02/26/06
Posts: 1445
Loc: Morbihan, France
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excellent site for cost of living in the world!!!! http://www.muskadia.com/pays_par_pays/cout_de_la_vie.asp to me it all goes down to what i take home and how it cost locally versus where i am going. its all relevant info.
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#42496 - 05/31/06 09:06 AM
Re: Taxes net vs gross
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Member
Registered: 10/17/04
Posts: 553
Loc: Desert of Arizona
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Nevado: Great idea, and thanks for the offer. I have been watching the net for Real Estate prices, and even for "fixers" they are more than I care to spend.
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Phantom Man
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#42497 - 05/31/06 09:30 AM
Re: Taxes net vs gross
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Member
Registered: 10/17/04
Posts: 553
Loc: Desert of Arizona
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Yep, everbody has a plan to beat Ceaser out of his due. Governments bring this sort of thing on themselves, I just returned from two weeks in Ohio and Indiana. The prices of real estate were cheap compared to Arizona and certainly Spain. But, there was the taxman standing around with his hand out everytime you turned around. Here in the USA it would be to easy for the taxman to catch a "black money" deal like is being described in this thread.
The next question comes up, how does that seller think that he can walk away from a contract because the buyer refuses to be part of a tax fraud? That seems to be a case that any lawyer would love to gets his hands on. I cannot speak for Spanish contract law, but I know that under American contract law, the seller has sold a house wheather he likes the tax consequences or not. It seems to me that the buyer would be under no obligation to be part of a criminal act, and a judge in a court of law would tell the seller that in no uncertain terms.
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Phantom Man
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#42498 - 05/31/06 11:44 AM
Re: Taxes net vs gross
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Member
Registered: 06/11/00
Posts: 597
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DD- good point on the legality of it all but I think you posted in the wrong place...
Have you paid a deposit or signed anything? I Spain, if the seller opts out of a signed deal (or a pre-contract) they have to pay the potential buyer a sum of money.
DD, you're not alone in thinking things in the Midwest are not what they seem...property taxes are outrageous. Here in Europe I spend less on property taxes a year than for renting my parking space!
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#42499 - 05/31/06 03:17 PM
Re: Taxes net vs gross
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Member
Registered: 02/18/05
Posts: 311
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So how does the real estate tax is assessed in Spain? I think in some countries, like the U.S. or Mexico they do not care (for real estate tax purposes) how much you paid for the property. Actually, the contract may say you paid 1 dollar / peso, but the assessor’s office will make you pay property taxes based on the value they consider appropriate for your property. If you don't like it you have to fight it. Is not the same way in Spain? As to Personal Income Tax I found this website with helpful information: http://www.strongabogados.com/taxes.php
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#42500 - 05/31/06 04:47 PM
Re: Taxes net vs gross
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Member
Registered: 02/23/04
Posts: 483
Loc: Madrid
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I think in some countries, like the U.S. or Mexico they do not care (for real estate tax purposes) how much you paid for the property. Actually, the contract may say you paid 1 dollar / peso, but the assessor’s office will make you pay property taxes based on the value they consider appropriate for your property. If you don't like it you have to fight it. Is not the same way in Spain? It is exactly the way the 7% tax (impuesto sobre transmisiones patrimoniales) works in Spain. This tax has to be paid to the regional government (comunidad autonoma) and they have tables with the standard values of the properties depending on its size and age, and the street, the city, even the story it is located. The issue is that, with real estate market prices rising 12-15% per year since about 1998, those tables are a little out of date. That is why a small cheat (10-15%) can be done more or less safely.
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