Spanish banks bounce after court reverses ruling on stamp duty

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British property owners in Spain missed out on a potential windfall of millions of euros after the Supreme Court ruled that banks were not required to pay stamp duty on mortgages.The decision.

MADRID, Nov 7 (Reuters) – Shares in Spanish banks, such as Banco Sabadell and Bankia, rallied on Wednesday, the day after Spain’s Supreme Court ruled banks are not required to pay stamp duty on.

The financial and stock market situation of the banks has returned to the front page after the Supreme Court decided, re-decided and then postponed its sentence on who ought to pay the stamp duty on mortgages. The decision has caused our banks to lose 9.066 billion euros in stock market capitalisation in a week.

In February of this year, the Supreme Court by means of its civil court issued a ruling that stated the mortgage holder is responsible for payment of the corresponding Stamp Duty, however, this same ruling was OVERTURNED by its own Court for Contentious-Administrative Proceedings in an unprecedented action last Tuesday 16th October 2018 and.

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Bank Profiles – La Caixa. Huge relief for Spanish banks after court reverses mortgage tax ruling. a ruling that would have meant that lenders were liable to pay stamp duty on mortgage loans..

"Based on rulings by the Supreme Court and the provincial appellate court of Zaragoza," explains an article in English at the Spanish daily EL PAS, "lawyers consulted by EL PAS said it is the banks who should put up with the cost of processing the stamp duty. On the other hand, the provincial appellate courts of Oviedo and Pontevedra.

Spanish banks must repay customers more than 4 billion euros (3.9 billion pounds) after Europe’s top court overturned on Wednesday a Spanish ruling that capped liabilities relating to a disputed.

The boss of Serco will give up his bonus after the Government contractor plunged to a £. was paid £100,000 to move his family from Scotland to England. The money goes towards stamp duty, removers’.

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Clara Furse, head of the london stock exchange, today said it was a case of ‘not if but when’ for investors who hope that stamp duty on share transactions would be scrapped. She said: ‘The question is.