November 7, 2018 / 10:35 AM / 12 days ago

Spain to propose law change so banks pay mortgage stamp duty - sources

MADRID, Nov 7 (Reuters) - The Spanish government will propose a change in the law so banks are forced to pay stamp duty on mortgages, sources close to talks said on Wednesday after the Supreme Court ruled lenders are not required to pay the tax late on Tuesday.

Prime Minister Pedro Sanchez plans to give a conference on the Supreme Court decision at 1230 pm (1130 GMT).

The changes, which would need the backing of other political groups, would not be retroactive, a potential ruling which could have cost banks billions of euros. (Reporting by Belen Carreno; Writing by Paul Day)

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