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Capital Gains Tax Rebate

24th February 2010: Spanish Algarve Property News

Spanish Algarve Property News: Great news! If you sold a property in Spain between 1997 – 2006 you may be entiled to a Spanish Capital Gains Tax rebate

Between 1997 and the end of 2006, UK citizens paid 35% Capital Gains Tax (CGT) when selling their property, whilst Spanish nationals only paid 15%.

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

Therefore, if you meet the requirements, you are entitled to reclaim this overpayment, plus approx 6% interest annually from the moment you present your claim (estimated average to reclaim: 15,000 €).

The ECJ ruling means that as many as 90,000 people could now make a claim.

Claims must be registered within 12 months of the ruling, so make sure you don’t MISS OUT!

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