• Profile picture of paul

    paul posted an update 10 years, 12 months ago

    Hi All. In respaonce to Gareths post .Sometime back you good people of evra wrote…

    Neil. Our lawyers state that the document does not clarify this position specifically, however we have a subsequent email that does 100%. IHT is treated as per the Wealth Tax. We are waiting for the document from the Tax Office that encompasses both rulings, as soon as we get this it will be posted on the web site.

    Do you have this document yet Iam sure Gareth in particular would want a copy of it .Could it be posted for all.
    Thanks.

    • Profile picture of erva
      erva replied 10 years, 12 months ago

      Paul & Gareth.
      In response to both these posts. The Tax Office was very clear in their email to our lawyers and treated IHT in the same way as the Wealth Tax. In other words you cannot take out a loan for the purpose of avoiding taxes. This is not a mortgage loan as it was not taken out for the purpose of a mortgage, it is simply a personal loan. Logic then dictates if you do so and take this out of Spain for the purpose of avoiding IHT then it is illegal. Lets be honest I am sure that without exception all victims were of the opinion that this was legal and was the reason for entering into the contracts. If this was not the case why would anybody want to do this. Antonio Flores has the email that is referred to and I am sure he will endorse what we have just said. In any event we will ask him if he has had a further reply from the Tax Office. Having said this the simple fact is if the schemes were sold with the purpose of evading Wealth Tax the contracts are still illegal.