Mallorcan lawyer Alejandro del Campo has filed a complaint with the European Commission against the Spanish Treasury.
The complaint challenges the requirement for non-resident citizens who bought property in Spain through foreign companies to pay Wealth Tax on assets outside the country. The modification of the tax, introduced last year, imposes the tax on the total value of these assets if they exceed 50% of the individual’s total property value. Del Campo argues that the requirement is absurd and violates EU treaties.
The complaint also targets the new tax on large fortunes. The investigation by the European Commission may take years to reach a decision. Previously, Del Campo successfully challenged the Spanish Treasury‘s model 720 and related penalties.
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