Apply for Spanish back tax

Irish residents who sold a Spanish property in 2005 and 2006 could recoup a substantial portion of the profits tax they paid. The deadline is running out for those who sold in 2005 as they need to apply before the ends of this year.

Ernst & Young Entrepreneur of The Award for Taxback.com Founder Terry Clune

Taxback.com founder and owner Terry Clune was last night named the 2009 Ernst & Young Entrepreneur of the Year.

British couple win right to reclaim Spanish CGT overpayment

Mr & Mrs Roy paid 35% CGT when they sold their property compared to a 15% CGT rate paid by Spaniards. A court action brought before the EU resulted in the practice being deemed discriminatory which led to a number of legal actions being brought before the courts by non-residents who sold their Spanish properties and were liable to the higher CGT rate.

Bermuda and Ireland Sign Tax Treaty

Finance Minister Brian Lenihan signed an agreement on Tuesday which will enables the cross-sharing of information between both tax authorities in the course of a tax investigation on an Irish tax resident.

"The signing of this agreement represents a new chapter in relations between Ireland and Bermuda," the Irish finance minister said in a statement.

Refund Potential for Overseas Holiday Homeowners…

As there is no black or white definition on what a property is required to do to classified as a FHL each case should be treated on a case-by-case basis. Returns must be submitted and calculations processed before the 31st July deadline is any losses for the 2006/2007 yas year are to be claimed.

Refunds Rain in Spain

Thousands of Irish citizens who have sold properties in Spain
look set to benefit after a Madrid court ruled that an
elderly English couple were unlawfully charged more than
twice the capital gains tax paid by Spanish people when they sold a holiday home there.

After more than a year’s battle, a landmark decision last week has allowed Alan and Margaret Roy, who are in their
sixties, to reclaim the tax they were owed on the sale of the Spanish property in 2004.

Irish Revenue Clamps Down on Holiday Home Owners

The tax authority is also seeking schedules of all lettings of holiday homes. According to Colm Murphy of Property Tax International, a number of investors could find themselves liable for fines and penalties, not just in Ireland, but also overseas.

SPAIN SET TO BOOST CAPITAL GAINS TAX

According to a news conference broadcast on Spanish television from Stockholm, Zapatero side that, ‘This will be a moderate rise’, upon where he had been meeting Swedish Prime Minister Friedrik Reinfeldt.
There is no indication that Spanish income tax or Spanish corporate tax is to be increased.

Taxman on the trail of foreign property owners

Foreign property experts maintain at least 2,500 letters have been sent out requesting information in recent months.

Earlier this year the Revenue Commissioners indicated it would probe Irish activity in overseas property, a move that could hit tens of thousands of relatively small investors.

Big Freeze Hits the Costas

The first Aoife Flynn knew of a problem was when the direct debits from her Spanish bank account were cancelled, one by one. Flynn, who last year bought a one-bed apartment in Calahonda on Spain’s Costa Del Sol, could not understand why monthly money transfers to cover mortgage and utility bills had been stopped.

Locals with Spanish accounts beware says property adviser

Spearing to The Munster Express, Colm Murphy of Property Tax International (PTI) stressed that the certificate in question must be authenticated by Spanish banks to avoid accounts being frozen.

“This legislation was introduced by the Spanish Treasury in an effort to combat money-laundering activities which have grown considerably as international gangs have chosen the sunny Spanish coastline as their new home from where to conduct their international crime business,” he said.

Spanish banks freezing foreign accounts

Around 80 per cent or more of foreigners who own Spanish property have bank accounts there to pay direct debits on electricity bills, management fees and the like. Now thousands of Irish people have been told that those accounts are frozen, because they should have produced an ID number for foreigners - an NIE - and a certificate of non-residence when they opened them.