The European Commission has demanded that a tax break that fuelled a spate of Spanish international mergers and acquisitions during the credit bubble be abolished and some of the money refunded. Brussels claims that a corporate tax provision that allows Spanish companies to reduce their tax bills by writing off part of the acquisition costs is illegal under EU state aid rules.

SOLD YOUR PROPERTY IN SPAIN BEFORE 31ST OF DECEMBER 2006?

CLAIM BACK YOUR GAPITAL GAINS TAX OVERPAYMENT

In spite of EU regulations and cautions to Spain, at the peak of the real estate market EU citizens were charged a 35% Tax Rate by the Spanish Tax Authorities on Property Capital Gains, whereas residents in Spain were charged a mere 15%. Blatant discrimination of EU citizens prohibited by EU legislation and a 20% Tax overpayment.

Spanish tax law changed in 2007, but it may still be possible to claim reimbursement of this 20% overpayment on properties sold before the 31st of December 2006, going as far back as 2004. The legal background is overwhelming.

Fast action must be taken as due to the statute of limitations time is running out to submit any claim, and each day that goes by your case is one step closer to expiring.

Take Action NOW! If you sold a property in Spain prior to the 31st of December 2006 contact us to see if you are entitled to file a claim.