Will it be possible to claim the return of the capital gains tax?

Will it be possible to claim the return of the capital gains tax?

29/10/2021

Legal

The Constitutional Court in Spain has declared that the calculation formula used by the local councils to calculate the capital gains tax is unconstitutional. We still only have a press release but soon the Court will publish the judgement. This means that the municipalities will have to apply a correct formula. Until now when a homeowner sold his property he had to pay a large capital gain.

The result was that they always had to pay. From the moment the judgement is published, all sellers who have paid a municipal capital gain for having sold in the last 4 years will be able to claim back part of that capital gain. We do not yet know what formula will be applied but we are keeping a close eye on everything that happens in the legal world to tell our clients about it.

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