Spanish Inheritance Tax

Spanish Inheritance Tax

28/09/2014

  Spanish Inheritance InfoPoint Below you will find answers to many common questions about Inheritance Law in Spain. Probably the first question everyone has is, ‘Where do I even start to deal with an inheritance’? Well, essentially inheritance is a process in which you are seeking to transfer the title to the assets of a […]

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Spanish Inheritance Tax: 8 Steps To Save Money

26/09/2014

  If you are reading this then you have probably received an inheritance in Spain. Or possibly you own assets in Spain and are concerned about how much of your estate will be gobbled-up in taxes, charges and legal costs. The first piece of advice is: Don’t Panic! Many scare stories are written about Spanish […]

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Inheritance With Non-Spanish Wills

26/09/2014

  Inheritance With a Non-Spanish Will It is often the case that foreign nationals do not draw-up a local Spanish will to deal with their Spanish assets meaning that any will that they have created in their home country must be used. The process for dealing with an inheritance under a foreign will is the […]

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Rules of Intestacy

26/09/2014

  For anyone not domiciled in Spain then the laws of succession of the country where they are nationals, shall be applied. If a valid will has not been written that means that the ruled of intestacy of that country shall apply. Below is a brief summary of some of the more important rules of […]

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Regional Inheritance Tax Deductions

26/09/2014
Regional Inheritance Tax Deductions

  Probate Law & Tax Deductions By Spanish Region Alicante; Andalucia; Aragon; Balearics; Canaries; Cantabria;  Cataluña;  Galicia;   Madrid;  Murcia    Client Testimonials Client reviews of our legal services, as uploaded by clients directly to the Wufoo survey platform:

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Inheritance Tax – Extensions & Deferrals

26/09/2014

  Difficulties with paying Inheritance Tax A common situation that arises is that the beneficiaries are unable to manage payment before the legal deadline of six months from the date of death of the testator. This is often due to the fact that the inheritance involves a property or some other asset that is difficult […]

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How To Reduce Inheritance Tax in Spain

12/09/2014

  Reducing Spanish Inheritance Tax Inheritance taxes in Spain can swallow-up a huge percentage of any inheritance and so it is worth planning ahead as carefully as possible to avoid the lion’s share of any legacy winding up in the Spanish government’s coffers. Of course it may be that investments and purchases have already been […]

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Inheritance Tax Rates in Spain

12/09/2014
Inheritance Tax Rates in Spain

  National vs Regional Tax Rules Formerly, only those who have been ordinarily resident in a particular region of Spain over the balance of a period of five years prior to their death will have the more generous regional inheritance tax exemptions applied to their estate. In addition it will require the beneficiary to be resident […]

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Supreme Court refers Valencia Inheritance Laws to the Constitutional Court

04/12/2013
Supreme Court refers Valencia Inheritance Laws to the Constitutional Court

  The Supreme Court has referred Article 12 of Law 13/1997, enacted by the Regional Parliament in Valencia, to the Constitutional Court for possible infringement of Articles 14, 31.1 and 139.1 of the Spanish Constitution. The Article in question confers higher levels of tax deductions  to those beneficiaries of estates who are resident in the […]

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Governing Party in Cataluña Consider Reintroduction of Inheritance Taxes

16/07/2012
Governing Party in Cataluña Consider Reintroduction of Inheritance Taxes

  Read the most complete guide available in English on Spanish Inheritance Tax The leader of the CIU party in the Catalan Parliament, Oriol Pujol, has opened the door to the reintroduction of inheritance taxes in an effort to reduce the deficit faced by the region. The taxes had been only recently been virtually eradicated by the […]

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Paying Inheritance Tax in Spain

05/05/2011
Paying Inheritance Tax in Spain

  A time-limit is established for the payment of inheritance taxes in Spain, being six-months from the date of death. An application may be made during the first five months to have the deadline extended by a further 6 months. Once granted the extended period of six months begins when the first six months has […]

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Inheritance Tax in Spain – Cataluña

04/05/2011
Inheritance Tax in Spain – Cataluña

  There is a 2014 update to this post here. Several years ago the Spanish central government decided to devolve tax-rate-setting powers to the autonomous communities or regional governments in Spain. The net effect of this has been that the regional governments have effectively abolished the tax or at least they have provided sufficient deductions […]

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Inheritance Tax Spain – Canary Islands

04/05/2011
Inheritance Tax Spain – Canary Islands

   There is a 2014 update to this post here.  Following-on from a brief overview of the tax deductions available in Andalucia and Alicante, we look now at the situation with regard to inheritance tax in the Canary Islands. In common with the other regions of Spain, the Canary Islands is responsible for setting the […]

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Spanish Inheritance Tax – Alicante

03/05/2011
Spanish Inheritance Tax – Alicante

  There is a 2014 update to this post here. Several years ago Spain’s central government devolved tax-rate setting powers in the area of inheritance and gift tax to the regional governments. Accordingly it has been for the local governments to determine what if any tax must be paid upon receiving an inheritance or gift. […]

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Spanish Inheritance Tax: Andalucia

03/05/2011
Spanish Inheritance Tax: Andalucia

   There is a 2014 update to this post here. An important aspect of spanish inheritance tax is the fact that the state has devolved much of the rate setting powers to the local regional government. Over the last number of years there has been a trend towards effectively repealing these taxes such that typically […]

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Spanish Inheritance Tax – state level deductions explained

03/05/2011
Spanish Inheritance Tax – state level deductions explained

  The death of a relative who owned assets in Spain forces people who often have no previous experience dealing with Spanish laws to try to comprehend the rules of inheritance  and indeed  inheritance tax in spain. Given that the rules are completely different from Anglo-Saxon jurisdictions it can be difficult to get an appreciation […]

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Inheritance Tax in Spain – Validating a non-Spanish will

01/05/2011
Inheritance Tax in Spain – Validating a non-Spanish will

Check out the most complete guide available in English on Spanish Inheritance Law It is often the case that foreign nationals do not draw-up a Spanish will to deal with their Spanish assets meaning that any will they have created in their home country must be used. The process for dealing with an inheritance under […]

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Inheritance Tax Spain 2011: State Level Exemptions

29/04/2011
Inheritance Tax Spain 2011: State Level Exemptions

  Inheritance tax has been effectively delegated by the central government to the autonomous communities in Spain which has allowed the regional governments to set the exemptions that can be claimed by beneficiaries. However, it is important to note that many of the Spanish regions have enacted legislation which requires residency in the area to […]

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Spanish Inheritance Tax: How is the tax applied?

29/04/2011
Spanish Inheritance Tax: How is the tax applied?

Check out the most complete guide available in English on Spanish Inheritance Law Inheritance tax is payable on all bequests of assets including property, vehicles, cash, shares, bonds as well as on any cash paid out by the maturity of a life insurance policy held by the deceased to the benefit of the beneficiary. The […]

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Why bother making a Spanish will?

29/04/2011
Why bother making a Spanish will?

Failing to make a Spanish will to take care of your Spanish property and other assets in Spain will cause undue delay and expense in arranging your affairs.Failing to make a Spanish will to take care of your Spanish property and other assets in Spain will make matters more complex and expensive than need be […]

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