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Spanish Inheritance Tax – Excellent news for foreign buyers abroad

The European Court of Justice has recently ruled that Spain’s inheritance taxes are illegal, allowing non-residents in Spain to breathe a highly anticipated sigh of relief.

The case has been based on the grounds of discrimination against non-residents due to the breach of the principle of free movement of capital. The latest news regarding the law means that non-residents in Spain who have paid inheritance or donation tax during the past 4-5 years can now take action and claim a refund for excess tax paid.

Previously, non-Spanish residents were subject to taxation according to the Spanish state laws, with different regions determining their own fiscal reductions. However the recent ruling now means that residents are allowed the same fiscal reductions that apply to residents.

Being a home owner or if thinking about buying a property in Spain, it is essential to keep up-to-date with laws and taxes in order not to be caught out in the future. The recent positive news means non-residents in Spain won’t pay more than they should and won’t suffer from discrimination. Spanish succession tax and inheritance law are complex issues and in order to make the best arrangements for you and your family it is advisable to seek qualified professional advice.

At Bromley Estates we endeavour to keep you informed about the latest trends and changes in laws and taxes, offering you the best advice possible when it comes to buying or selling property. With our client’s best interests as a primary objective, we aim to provide a top quality service as well as the most current information. Contact us today for further details about our company, our properties and let us find you your dream home in Marbella – with the most up-to-date advice to enable you to make the choice that is right for you.

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