End of the Inheritance Tax?

Sunday, January 27, 2019
By Martin Myall

AND Junta PM MorenoThe first meeting of the new Board of Ministers for the Junta has accorded the elimination of 99% of Inheritance and Donations Tax.

The coalition, regional government comprising of  a Partido Popular and Ciudadanos alliance also agreed to order an auditing of 14 public entities, amongst them the regional TV & radio broadcasting entity, the RTVA.

In a joint statement, Sr Moreno (Prime Minister – PP) and Sr. Marín (Deputy PM – C’s) said that these measures were just the beginning of the changes to be brought about, as stipulated under the 21-point accord signed by both.

This announcement concerning Inheritance tax is, in reality, just the first procedual step in changing the existing law, which means that it is far from coming into affect. However, both consider that the existing law is “unfair,” even though, thanks to provisions insisted upon by Sr Marín’s party with the PSOE in the previous administration, the minimum threshold was one-million euros; i.e., below that you wouldn’t have to pay any inheritance tax.

Prime Minister Moreno, however, pointed out that the supression of the inheritance law will only affect direct lineage; parents, children and spouse, but not the rest of the family relations. Neither did he mention when it would be approved nor how the legal procedure would be; i.e., approved under ordinary law or through a decree.

(News: Andalucia)

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One Response to “End of the Inheritance Tax?”

  1. The current system contravenes fundamental EU principles. Spain has no option but to change- either voluntarily; or they will be forced to change, as they have been in their treatment of non- residents. This is Spain bowing to the inevitable, not being ‘fiscally generous’…. you can bet your bottom dollar that tax payers will just be fiscally hit in other ways, to compensate!!!

    #762

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