Spanish banks bounce after court reverses ruling on stamp duty

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BANK GAINS. Spanish banks were in the spotlight after a government move to counteract a court ruling that would have forced customers to pay mortgage stamp duty, pledging to pass a law to oblige banks to pay the tax.

"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.

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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 mortgages.

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..

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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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 · MADRID (Reuters) – Spanish banks could see a rise in legal claims related to an historic method for pricing mortgages that could have a big impact on their profits, the Bank.

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Spanish banks under pressure after court ruling on mortgage stamp duty. spanish bank shares fell sharply on Thursday after the Supreme Court ruled banks must pay stamp duty on mortgage loans.

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MADRID, Nov 6 (Reuters) – Spain’s Supreme Court said on Tuesday that customers and not banks will have to pay for stamp duty on mortgages from now on, reversing a ruling from mid-October and.