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 surprised market participants by reversing a ruling that would have meant that lenders were liable to pay stamp duty on mortgage loans.
The court had said in mid-October that banks rather than borrowers would have to stump up for the Actos Juridicos Documentados (AJD) — a tax that applies to mortgages in Spain.But the third chamber of the Supreme Court struck this ruling down by 15 votes to 13 ...
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