Lenders, not borrowers, become Stamp Duty taxpayers on mortgage loans under reform law.
Key Points:
..The new law applies to all mortgage loans created after 10 November 2018, without retroactivity.
..Expenses derived from paying the Stamp Duty will not be tax-deductible by the lender for purposes of corporate income tax or non-resident income tax (for non-Spanish banks with a branch operating in the Spanish market).
..The reform may cause a repricing of loans currently under negotiation, and may lead banks to find ways to shift the cost to borrowers.
Please see full publication below for more information.