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Spanish Property Tax Refund---Daily Mail

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WETBRIT


Joined: 30/06/2008
Posts: 20

Message Posted:
11/07/2010 21:32

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Message 1 of 7 in Discussion

Up to 90,000 Britons who have sold a holiday home in Spain in the past 12 years could be owed thousands of pounds by the Spanish tax authority.The locals paid just 15 per cent in capital gains tax (CGT) on their profits when they sold, Britons and other non-residents were charged a hefty 35 per cent.The European Court of Justice has opened the door to this huge tax rebate for non residents by ruling that the tax regime was 'unlawful and discriminatory' to other EU citizens.The ruling applies to homes sold after 1986, when Spain joined the European Community, but the differences in the level of CGT charged to Spanish and UK nationals mean that rebates are only due to those who sold from 1997 onwards.



Read more: http://www.mailonsunday.co.uk/money/article-1228692/90-000-Britons-reap-Costa-tax-rebate.html#ixzz0tOr2k2Y1





Read more: http://www.mailonsunday.co.uk/money/article-1228692/90-000-Britons-reap-Costa-tax-rebate.html#ixzz0tOqwAGs5



johnnybgoode


Joined: 08/12/2008
Posts: 252

Message Posted:
12/07/2010 10:09

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Message 2 of 7 in Discussion

this has been talked about for nearly 3 years, in the spanish press, all people need to do is pass on your details of your sale to a lawyer in the uk and they will proceed with the nessacary paperwork, and having sold my old finca four years ago i applied and eventionaly was told that this would not benifit me as i was not charged with capital gains tax in the first place, as i'd owned the property for over 6 years, and was a full time resident, still cost me 180, for the lawyers advice, and it took him nearly 2 year's to do so, i even called my old lawyer in spain it took him all of a day to do the same service and he didn't cost me anything, so before calling one of these uk based lawyers check all your paperwork to start with it could save time and money.then call/email your lawyer in spain who can check more quickly.



Troodo


Joined: 12/06/2008
Posts: 1002

Message Posted:
12/07/2010 10:45

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Message 3 of 7 in Discussion

Hope the TRNC government is taking note



Geoff


Joined: 25/06/2008
Posts: 1370

Message Posted:
12/07/2010 16:00

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Message 4 of 7 in Discussion

Is the TRNC part of the EU. I always thought it wasn't but in another recent thread I was corrected on that and was told "all Cyprus is a part of the EU".

What is the truth? EU Member or not??

Geoff



Harold2555



Joined: 19/04/2008
Posts: 1139

Message Posted:
12/07/2010 21:15

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Message 5 of 7 in Discussion

Not, the government of the TRNC don't believe so and in fact whilst the EU admitted the whole of the island, the whole raft of EU legislation does not apply to areas not under the control of the Government of the ROC.





Harold



Clarissa2


Joined: 12/06/2009
Posts: 1476

Message Posted:
13/07/2010 02:03

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Message 6 of 7 in Discussion

Re : Msgs 4&6,



Yes, Harold is right. In all EU protocols it is stated that the "community of Turkish Cypriots" is considered to be a part of the EU, but the Acquis Communautaire (the body of EU law accumulated) is suspended. ( Protocol 10 to Accession Treaty 2003).



cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
13/07/2010 07:37

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Message 7 of 7 in Discussion

It is a total shambles, yes or no?



If you try to buy duty free in UK and boarding card says Ercan you cannot buy. If you have two cards, one with a Turkish port use that and you can buy!!!!!



For offshore banking purposes TRNC is treated as non EU and you can have your interest without tax paid.



TRNC has had hundreds of millions of Euro to have improvements to infra structure - there are signs everywhere.



The list of anomalies is endless, one thing for sure when it comes to money all rulings locally will be in favour of TRNC government and will be far more difficult to sort than in Spain.



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