Be aware that anyone who sold a property in Spain has paid Capital Gains Tax of at least 5% of the selling price (withholding tax). As a consequence, all non residents who sold between those years may have a significant chance for recovering an average of 20,000 €.
As you may have read recently in the national newspapers, a campaign to help EU / British citizens reclaim millions of Euros in Capital Gains Tax from the Spanish government has been making the headlines.
In November, the European Court of Justice ruled in favour of EU / British citizens stating that the Spanish Government unlawfully charged non-residents 35% capital gains tax on the sale of their properties when the rate for Spanish nationals was only 15%.
The ECJ’s ruling now means that any European Citizen who sold a property in Spain between 1997 and 2006 could now be entitled to make a claim and it is estimated that this paves the way for almost 150,000 EU citizens to reclaim.
After a legal battle lasting over a year and a half, our colleagues from Costa Alvarez Manglano & Associates have filed almost 600 claims and recently obtained refunds for the first 100 European citizens (most of them British) for whom cases were filed over a year ago.
Time is of the essence, as claims must be made within 1 year of the ECJ's ruling, therefore your reclaim must be filed before mid November 2010.
Costa, Alvarez, Manglano are working on a No Win, No Fee basis and you will therefore have nothing to pay until your case is won. Each case has to be presented to the tax authorities and the Courts individually.
Your only upfront cost (100 €. approx.) will be to pay a notary of your choice, either in your country or in Spain, to sign a specific Power of Attorney (PoA) from Costa, Alvarez, Manglano in order for them to represent you when your case goes to Court. You can also get the PoA in any Spanish embassy or consulate.
If you would like to proceed with your reclaim or if you have any questions, simply email us at Mosa Trajectum Forum authorising us to give your contact details to Costa, Alvarez, Manglano & Associates and a member of their staff will contact you shortly. Or, if you prefer, please register with Costa, Alvarez, Manglano & Associates by clicking here:
This registration does not compromise you at all. Once registered, a member of their customer service team will contact you shortly.
If you know of someone else that may be entitled to reclaim, we would be very pleased if you could forward this email so they may also get the benefits of this legal action.
For further information on the ECJ Ruling, please refer to the press coverage through the following links:
Daily Mail – ‘Britons could reap Costa tax rebate’.
The Times – ‘Britons owed millions in compensation for discriminatory Spanish tax law.
BBC – UK home owners in Spanish tax victory.
The Daily Telegraph – British couples living in Spain