January 19, 2006 at 9:13 am #51496
Some good news on 35% Capital Gains.
On the 16th Jan the EU Commision decided to refer the Spanish Gov to the Court of Justice over the unfairness of the 35% tax on foreigners property and earned income.
I have e-mailed some MEP’s asking what they are doing about it etc. I suggest everyone do the same. Contact everyone you know and his brother!!! Lets use some people power to change this unfair tax!!!
How many hundreds of thousands of people are affected by this?
Another avenue I saw was the– ” Foreign Property Owners Institute “, run by Per Svennson.
Any comments or further suggestions of action are welcome.
January 19, 2006 at 10:27 am #60590
Well done Lee. ! 😀
My husband & I are trying to recover from the ‘flu. 🙁 We have so much correspondence to catch up on but I will put this on my “to do” list. Having said that we have no property to sell! We, like Sofia, are trying to recover our money from developers who almost 2 1/2 years after paying a hefty deposit, have not & will not be building our appartment.
OT, We used to live in Horsham, quite near to Copthorne. We now live south of Guildford.
January 19, 2006 at 12:29 pm #60592
Don’t hold your breath – they’ve been reported before, and not only about this particular legislation, and did diddly-doo-doos as a result.
This is against the fundamental principals of the European Union, where there is supposed to be free movement of people, businesses, capital, everything between the Eu members, and everyone is supposed to be treated absolutely equally, including taxes.
It seems the Spanish Government like to enjoy all the benefits/handouts of being an EU member, but regard anyone non-Spanish as an excuse to fleece them of every penny they possibly can.
Obviously Lee, you are absolutely right – the more complaints (screaming and shouting if necessary….) that are made, the more people push, then just maybe the Spanish Government will rouse from his siesta and do something.
In the meantime, they are happily pocketing this unfair tax…… 😆
January 19, 2006 at 7:28 pm #60597
In the Irish times on Tuesday 17 January in Business news there was a piece about the European Commission bringing the spanish government to Court. The EU Comm is taking a case against in the European Court of Justice over two tax laws which discriminates against non residents. One is the capital gain as we know of 35% and the other is 25% withholding tax levied on non residents receiving spanish income. It will be 1 year or more before a European Court Judgement is issued in the case.
Maybe you already knew all of this – in any case hope it helps.
The forum ‘Real Estate Topics, News & Discussion’ is closed to new topics and replies.