Pedro Sanchez is preparing a fiscal sword for the coming months. The President of the Government announced a few weeks ago that there would be an increase in taxes in the coming months Spain and everything indicates that Moncloa wants to get involved in inheritance rights, which depend on the autonomous communities and that many, as is the case of Madrid or AndalusiaThey decided to subsidize it and make it symbolic.
To try to raise more money through taxes, OKDIARIO We had already reported at the time that Pedro Sanchez is preparing a tax reform in which it intends to force the Community of Madrid, among other things, to collect inheritance and gift taxes and also to increase the rates of personal income tax. To do this, the Government intends to create a temporary and solidarity tax, with a minimum and mandatory rate. This will be their way of opposing the decision of many communities not to collect a new tax from taxpayers.
Inheritance tax exempts from duties acquisitions regulated by the law of said tax when they are made by individuals, such as inheritances, legacies, donations, etc. In simpler terms, it is the tax that people must pay, regardless of their economic level, when they receive a free inheritance from a deceased person. They can only be heirs of these assets if they pay amounts that sometimes cannot be assumed by the aspiring owners.
This tax is provided for in Law 29/1987 of 18 December and the rule specifies in its first paragraphs that “of a direct and subjective nature, it taxes capital gains made for profit by natural persons, in the terms provided for in this law.” It thus establishes as a taxable event “the acquisition of assets and rights by inheritance, legacy or any other inheritance title” or “by donation or any other legal operation free of charge, ‘inter vivos'”.
Inheritance rights in the autonomous communities
He inheritance tax This is the direct responsibility of the autonomous communities and that is why many have chosen to free the heirs from this burden and reduce this tax to 99% so that the amount that citizens have to pay is symbolic. One example of this is the Community of Madrid, in which Isabel Diaz Ayuso has virtually eliminated this tax.
“The Community of Madrid has promoted the practical elimination of inheritance tax in cases where the heir had the following family relationship with the deceased,” states the CAM on its website, specifying that it will benefit from a bonus of 99% of descendants (children, grandchildren, etc.) and adoptees under the age of twenty-one, as well as adoptees aged twenty-one or over, spouse, ascendant (parents, grandparents, etc.) and adopters.
In other autonomous communities such as Andalusia, the Valencian Community, La Rioja, the Canary Islands, Castile and Leon and Murcia, inheritance tax is reduced to 99% in the case of direct descendants and citizens will only have to pay a symbolic tax of 1%. fee.
In other regions of Spain they have other ways of interpreting inheritance tax, as is the case of Navarre or Castilla-La Mancha where they only have to pay inheritances over 300,000. In the Balearic Islands and the Basque Country, those who exceed 400,000 people will have to pay the tax, while in Aragon, inheritances under 100,000 people are exempt at 65% and those up to three million are exempt at 100%. In the case of Catalonia, there will be a 99% bonus only for the spouse who receives an inheritance and it will then increase from 66% to 99% in the case of a relationship with a deceased person.
Inheritance taxes have been in the news for some time now because the majority of autonomous communities have preferred to abolish them, contrary to what seems to be the government’s strategy. Government facing the last months of 2024 and 2025: to carry out a large tax collection to be able to support a system that is hanging by a thread due to the high number of pension expenses, the number of unemployed that could increase in the last quarter of the year and the high youth unemployment that places Spain at the bottom of Europe in this area.
