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An overview by Garrigues, Taxand Spain
Eduardo Abad from our Spanish firm, Garrigues, has published a tax alert highlighting a recent move by the Valencian government to implement a significant discount on inheritance tax for family members, with a bonus of 99% of the tax rate applied on both ‘mortis causa’ and ‘inter vivos’ acquisitions.
This change, effective for taxable events accrued as of 28 May 2023, applies to various scenarios, including inheritances by close relatives and acquisitions by individuals with disabilities.
Additionally, the reduction in the tax base for ‘inter vivos’ acquisitions by certain family members has been modified, removing the 5-year limit for donations from the same donor while maintaining other requirements and exclusions.
Read the full alert here.
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