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Tuesday 15 April 2008

Capital Gains in Spain and Canary Islands Tax Reclaim

Mass consumer action being led by leading Spanish Lawyers office. I f you have sold a property in Spain between 2004 and the end of 2006 you could be entitled to reclaim some of the capital gains payments made on your property from the Spanish government , this applies to all properties in the Canary Islands and other Spanish territories where you are liable for the same capital gains as local residents.

Learn about a new mass consumer action being led by Spanish lawyers Costa Álvarez Manglano & Associates.
If you sold a property in Spain between 2004 and the end of 2006 you could be entitled to reclaim thousands of pounds from the Spanish Government. Are you entitled to make a claim?
Between the beginning of 2004 and the end of 2006, UK citizens and other non resident EU citizens paid 35% Capital Gains Tax (CGT), whilst Spanish nationals only paid 15%.
The European Commission has said that this 20% overpayment contravenes European Community Treaty discrimination rules and was therefore charged illegally by the Spanish Government.
As a direct result of this ruling, if you have been affected and can meet the requirements laid out below, you could be entitled to reclaim the 20% CGT overpayment you made in Spain, PLUS approximately 6% interest per annum. It is estimated that the average amount owed to British and other non-spanish citizens is between €10-30,000!
Time is of the essence, as claims must be made within four years of a property being sold.

Do you qualify?
To make a claim you must meet the following criteria:
You sold a Spanish property between the beginning of 2004 and the end of 2006.
You were not officially resident in Spain when you sold it.
You paid the Capital Gain Tax to the Spanish Authorities.
You sold your Spanish property as an individual; not as a company.
If you think you qualify visit or call 0845 680 3849 for more information.

Article Provided by HIFX currency exchange

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