Spanish banks bounce after court reverses ruling on stamp duty

It would appear the Spanish banks’ reign of tyranny is over and they are being made accountable for their one-sided dealings with their own clients, however, this ruling has stirred up a hornet’s nest and it is far from over.Not even 24 hours after this latest ruling was passed, the Supreme Court has made yet another astonishing decision.

Profits at several Spanish banks are set to take a fresh hit after the country’s Supreme Court issued a ruling forcing BBVA and other lenders to offer less onerous terms to hundreds of thousands.

Supreme Court Judgement, declares mortgage expense clauses null and void due to unfair terms of contract.. stamp duty. equally the Supreme Court establishes that regarding Stamp Duty, the lending Bank or Entity shall be the taxpayer.. European Court of Justice ruling obliges Spanish Banks.

Huge relief for Spanish banks after court reverses mortgage tax ruling Spanish banks were among the best performers in the debt and equity markets on Wednesday, after the country’s Supreme Court.

and blaming the Reserve Bank and Auckland Council is pure politics. "Government should be imposing restrictions on non-resident investors until supply issue is resolved, and imposing a stamp duty on.

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Housebuilder Persimmon said revenues jumped 23 per cent to £2.6billion last year in a strong housing market. The company added that stamp duty changes and the Government’s Help To Buy scheme should.

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 recorded under Ruling Number 1505/2018.

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.

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Spanish bank shares fell sharply on Thursday after the Supreme Court ruled banks must pay stamp duty on mortgage loans, potentially costing them billions of euros in compensation and raising.

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