How to Calculate Inheritance Tax in Spain

 

determine inheritance tax in spainThe 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.

 

 

tax rates

Example

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

 

Useful Tip: Always make sure to get information on a Spanish lawyer’s professional background as well as the legal fees they will charge before you commit to using their services. If you do need a Spanish lawyer consider this free service from Advocate Abroad – Lawyer Finder Spain

 

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