This service consists of drawing up valuation reports as at a current date or previous dates for submission in a legal proceeding where the subject matter is the purchase and sale of real estate, a development, a construction, the distribution of assets and so on. The most common purpose of these reports is to determine the market value of an asset.
The Tax Agency can initiate a value verification file, with its corresponding liquidation proposal, in patrimonial transfers, inheritances and donations in which the taxpayer has established a taxable base for the payment of taxes lower than the scales managed by the Administration.
In all these cases, the taxpayer has the right to request the Administration to correct the value by presenting a contradictory expert appraisal. IV can draw up this report, determining the market value of the asset at the date of the transfer and justifying the amount to be considered as a taxable amount for tax settlement purposes.
IV draws up value reports for refuting the taxable base established by the Administration. Several judgments handed down by the courts of justice, including that of 11 May 2017 of the Constitutional Court, have established that the Increase in Value of Urban Land (IIVTNU or also known as Municipal Capital Gains) should not apply when the value of the land decreases during the tenure of property.
Revision of cadastral values of real estate. Issuance of reports.