Spanish Capital Gains Tax Reclaim

Posted on 26. Feb, 2010 by eowadmin in Buying Abroad, Featured, Investing Abroad, Owning a Property Abroad

It seems that thousands of Spanish Property investors could be entitled to a refund of their Spanish Capital Gains tax. If any of you sold a Spanish property between January 1st 1997 and December 31st 2006, read on to see how you can get your money back.

How is this possible? A ruling by the European Court of Justice (ECJ) confirmed that non-Spanish residents were unfairly charged 35% in Capital Gains Tax compared to 15% charged to local Spanish residents. As a result it is now possible to submit a claim to get the 20% difference back from the Spanish Tax authorities.

It was reported in a United Kingdom based newspaper, the Daily Mail, that “experts estimate the homeowners who sold since 1997 could be due an average £13,500 tax refund.” As a result, former Spain property owners could be entitled to a windfall by claiming back the tax they paid on their profits when they sold their property. These non-resident taxpayers are also entitled to claim a refund for missing interest at a rate of 6% from the date the reclaim is presented, making it possible for the total reclaim to be even higher.

Commenting on the subject, Eduardo Fernandez Martinez, expert in the Spanish Property Tax sector had this to say, “This is breaking news for the non-resident taxpayer. The Spanish Tax Authorities have been inundated with claims since the ruling of the ECJ. The result that it was both discriminatory and unfair to charge a higher tax percentage is both deserved and overdue. Non-residents will now get what is indebted to them for investing in Spain for years.”

The most exciting thing about this new development is that there are some avenues available that allow you to submit a claim with no upfront cost; based on a “No Win – No Fee” basis. It is exactly this type of avenue that Eye On Worldwide has sought out for our readers. To submit a claim simply email your name and contact details to support@eyeonworldwide.com and we will have the most successful International & Spanish Tax Specialist Advisor on Capital Gains Tax Reclaims contact you for no-obligation advice.

How do I know if I qualify?

The qualification process is simple.

  • You sold your Spanish property between January 1st 1997 and December 31st 2006.
  • When you sold your property you were not a Spanish Resident
  • You have a copy of the purchase and sale deeds of your property (The Law & Tax specialist can help you acquire these if you do not have them)
  • You have the Spanish Tax form Modelo 211 and / or Modelo 212 (again, the Law & Tax specialist can help you acquire these if you do not have them)

How do I claim?

  • Simply email your name and contact details to support@eyeonworldwide.com and a specialist advisor will contact you for no obligation advice.

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