Prostock-studio, Europa Press Tax Agency Finally Calms These Citizens: Don't Worry, They'll Never Take It Away From You
Pay attention to the notice from the Tax Agency about what will happen to your assets if you don't settle the existing debts with the tax authorities.
If you have a debt with Hacienda, it's natural to feel concerned about possible seizures. However, it's important to know that not all assets can be seized.
The law protects certain essentials for your daily life. Today, we explain how Hacienda handles these situations and which assets are protected by law.
Hacienda Reassures Many Spaniards: What Happens if I Don't Pay My Debt
If you don't pay a debt within the established period, Hacienda can initiate a collection process. This process may include the seizure of assets to recover the owed money.
However, before reaching this point, Hacienda usually sends several notices to inform you about the debt and offer you the possibility to defer or split the payment. It's crucial that you respond to these notices and seek a solution to avoid more drastic measures.
What Assets Can't Be Seized by Law? Take Note
It's important to highlight that, according to Article 605 of the Civil Procedure Act, certain assets are protected and can't be seized. This protection aims to ensure that you can maintain a decent quality of life, even if you have outstanding debts. Among them are:
- Essential goods for daily life: such as food, clothing, and footwear necessary for you and your family.
- Instruments necessary for the exercise of a profession: tools or equipment indispensable for your work.
- Personal use items: such as personal hygiene items and necessary medications.
- Salaries and pensions: up to the limit of the minimum interprofessional salary, to guarantee your livelihood.
Assets That Could Be Seized
Although the law protects certain assets, others can be seized if the debt is not paid. Some examples are homes or land you own, cars, motorcycles, or other means of transportation and money in bank accounts. Also valuable goods, such as jewelry, works of art, or antiques.
Do This to Avoid Losing Your Assets
To protect your assets and avoid seizures, pay your debts and meet the deadlines to avoid surcharges. If you can't pay, contact Hacienda to request a deferral or installment plan.
Read and respond to the notices you receive from Hacienda to stay informed about your situation. Consult with a professional if you have doubts about your rights and obligations, seek legal or financial advice.
Remember that Hacienda offers mechanisms to help you meet your tax obligations without affecting your essential assets. Maintaining open and proactive communication with the Tax Administration is key to resolving any issues favorably.
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