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Legal chaos around mortgage tax reform

Legal chaos around mortgage tax reform

  • Por Cristina Ruiz López
  • 13th of January 2020

Rural savings banks and credit unions have a special tax regime in Spain, mainly regulated by Law 20/1990, of December 19, on the Tax Regime of Cooperatives. This rule explicitly establishes in its article 33 that as protected cooperatives they are, and in spite of being these the lenders of a credit are exempt from paying the mortgage registration tax, whose duty falls exclusively on the client.

In this sense, the last modification introduced in the consolidated text of the Law on Tax on Patrimonial Transmissions and Documented Legal Acts (TRITP-AJD), approved by Royal Legislative Decree 1/1993, of September 24, in relation to the application of the tax benefits and exemptions granted by the TRITP-AJD or other laws in the Tax on Documented Legal Acts, raises questions about whether the provisions of article 33 of Law 20/1990 is an express provision for the purpose of maintaining the Exemption in the constitution and cancellation of mortgage loans granted by rural savings banks and credit unions.

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Labor flexibility and employment creation

Labor flexibility and employment creation

  • Por Francisco Piedras Camacho
  • 28th of January 2020

Since the 2012 labor reform, the Spanish business environment has been better adapted to market needs and technological changes, with a positive net effect on the level of employment.

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