By Dave Jamieson
SPAIN’S real estate businesses have been named and shamed as amongst the worst debtors in the country. Last Wednesday, the country’s tax office, the Agencia Tributaria, published a list of taxpayers who each owe more than a million euros.
The defaulters include several businesses dealing in real estate, most of which have financial problems or are already involved in bankruptcy proceedings. The largest single debtor is Madrid-based Reyal Urbis with 378 million euros outstanding, followed by construction firm Nozar which owes 203.2 million euros. Martinsa-Fadesa which in 2008 recorded Spain’s biggest-ever bankruptcy, is still 37.7 million euros in debt to the tax man.
In sport, MotoGP rider Dani Pedrosa, Argentinean footballer Gabriel Milito and football clubs including Racing Santander, Recreativo de Huelva, Jerez, Murcia, Albacete and Alicante are each listed as owing over a million euros. Basketball teams listed are Estudiantes, Joventut de Badalona and Girona.
