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Sat 03 Mar 2009Spain may have to refund tax to Irish property sellers
HUNDREDS OF Irish citizens who sold holiday villas and apartments in Spain before 2007 could be in line for a refund of overpaid tax following a landmark ruling by a Madrid court.
The court has upheld an appeal by an elderly British couple against the Spanish tax authorities after they were forced to pay more than twice the rate of Capital Gains Tax (CGT) on the sale of their holiday home compared to residents in Spain.
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