When a transfer occurs and the plusvalía is not declared within the deadlines established by law, the corresponding municipality will demand not only the tax amount but also late payment interest and a penalty ranging from 50% to 150% of the corresponding tax amount. Ultimately, the municipality can take enforcement action, including the risk of freezing bank accounts, seizing real estate, etc., to recover these amounts.
The surcharges for late payment vary depending on the time elapsed. They include a 5% surcharge if the tax is filed within the three months following the deadline, a 10% surcharge if filed between three and six months, a 15% surcharge if more than six months but less than 12 months have passed, and a 20% surcharge if a year or more has elapsed. Additionally, late payment interest will also be applied.