July 29, 2021

Banks can not deduct the mortgage tax

Banks can not deduct the mortgage tax

The Government today approved an amendment to the corporate tax regulations so that financial institutions can not deduct the tax from documented legal acts (AJD) of the mortgages, which from now on they will have to assume.

The Minister of Finance, María Jesús Montero, explained during the press conference after the Council of Ministers that this regulatory change will accompany the amendment of article 29 of the property transfer tax and legal acts documented for the bank to assume the tax.

Montero has justified the urgency of these changes because of the "confusion" generated after the Supreme Court ruled that it is the citizens who have to pay the tax, although it had previously assigned it to the bank.


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