The tax rate to apply increases as the amount inherited increases according to the scale published by each autonomous community in Spain or, if such a scale is not published, then according to the scale published by the central government.
Obviously regard must be had to where the assets are located to determine which scale is applicable but the following table of the scale published by the central government serves as an example as to how the tax rates function.
Where three children each inherit, after deductions and charges, an inheritance valued at €45,000 from a parent, to determine the amount of tax payable by each we would calculate as follows:
- Up to €39,943.26 the tax payable is €3734.59
- The portion above €39,943.26 (€45,000 – €39,943.26 = €5,056.74) is taxable at 11.9% = €601.75
- So, total tax payable by each child is € 3734.59 + € 601.75 = €4,336.34