Tax man’s bid to settle debts

HACIENDA is divesting itself of toxic assets.

Between January and the end of November, Spain’s equivalent of Britain’s Treasury auctioned Alicante properties to settle €3.6 million in tax debts.

Most were homes built by crisis-hit property developers unable to pay their tax bills.

Further auctions are on the horizon, the first of which on December 12 affects an Elche-based developer. Others due to follow in January centre on companies in Benissa and Orihuela Costa.

Other properties scheduled to be auctioned next year to settle tax debts are located in Villajoyosa, Denia and Altea.