Friday, 5 March 2010

Spanish Capital Gains Tax Rebate may be possible on sales between 1997 & 2006

Spanish Capital Gains Tax Rebate may be possible on sales between 1997 & 2006

If you sold a property in Spain in the period between 1997 - 2006 a recent ruling may be a significant benefit to you.

You may be entitled to a Spanish Capital Gains Tax Rebate
                                    - BUT -
claims must be registered within 12 months of the ruling.


Between 1997 and the end of 2006 a UK citizen selling a Spanish property paid 35% CGT (Capital Gains Tax), but Spanish nationals paid only 15%!

The ECJ ruling confirmed legal arguments and states this overpayment contravenes European Community Treaty discrimination rules and confirm it should not have been charged by the Spanish Tax Authorities.

Therefore, you may be entitled to reclaim this overpayment, plus approx 6% interest annually from the moment you present your claim, subject to you meeting the requirements.

There is an estimated 90,000 people who could make a claim.

Make sure you don’t miss out;
claims must be registered within 12 months of the ruling!

BUT: Although time is of the essence, it is critical to make the claim in the right way;
because:
"any cases that are rejected for whatever reason, cannot file the reclaim again".

Read more:
    Daily Mail - Britons could reap Costa tax rebate
    The Times - Britons owed millions in compensation for discriminatory Spanish tax law
    The Daily Telegraph - British couples living in Spain
    The Independent - Britons win fight for fair tax after Spain charges them more than more than double
    Intasure - Spanish Capital Gains Tax Rebate

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