Quote:
Originally Posted by roythepower
Thanks jain but in my case it is to late. I have already done the deal and been burnt. Now its a case of damage limitation. So its common practice for a develper to put down a lower price in front of the notary so he pays less taxes. The notary deeds cannot be changed, yet the contract told me to pay a lot more money than he put down on the notary deeds. i have paid him a lot more than what he has put down, so i am going to be clobbered with loads of capital gains tax i never gained. WHAT CAN I DO ABOUT THIS, IS IT WORTH TAKING HIM TO COURT.
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I do not understand what is the problem in your title deed to be written the tax estimated price. You have saved yourself some extra tax and what is the problem to have this price written in your title deed.
You have saved paying the DDS tax. and at end of each year you save the difference when paying the council tax.
More than 80 % of the people who own property in Bulgaria have the tax estimated price written in their deeds, and everybody is well aware of it.
If you decide to sell this property after few years the new owner will have the tax estimated price written in your deeds, so you will not pay a lot of capital gains tax - and it is only 10 %, man!
Something else, a lot of you do not know, that if you keep your property for more than 5 years time - YOU DO NOT PAY CAPITAL GAINS TAX!