Huge relief for Spanish banks after court reverses mortgage tax ruling

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By Tyler Davies
07 Nov 2018

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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