Expats who sold property in Spain are signing up for tax rebate suit
Just read this on another blog which might be of interest to some of you: Hundreds of expats who sold property in Spain from 2004 to 2006 have registered for a class-action suit against the Spanish government, alleging they were over-taxed when they sold their properties. “More people have been affected than we originally thought,” said Mark Bodega of HiFX, the currency exchange company which is helping to recruit cases for a Barcelona-based law firm. Until the end of 2006, Spain charged foreigners a 35 percent capital gains tax, compared to 15 percent for Spanish citizens. But the European Commission ruled the policy violated the EU’s anti-discrimination laws and Spain eventually switched to an equal taxation system. The Spanish firm of Costa, Alvarez, Manglano & Associates is organizing a case to bring before the European Court of Justice demanding Spain rebate the overpaid taxes, plus six-percent interest. The average claim is about €25,000 (about $37,000), the law firm says. A ...
