The Family Business Association of the Province of Alicante (AEFA), together with Cuatrecasas, organized a working day focusing on recent developments. Inheritance and Gift Tax (ISD) reform in the Valencian Community.
During the session, Cuatrecasas Finance and Tax Office lawyer Nuria Sigüenza emphasized: “The approved regulations, significantly reduce the tax rate This tax from donations evaluate the impact that these transmissions may be subject to other taxes.
AEFA president Maite Antón emphasized the following: The importance of bonus extension abolition of this tax to facilitate the transfer of family businesses to new generations” and with this continuing the legacy of the business family Thus, it will continue to grow and create wealth, employment and economic stability in our region. Therefore, Antón thinks that “the claim that AEFA has made historically regarding this tax is very important.”
Cuatrecasas touched upon the following details in his speech: new ISD regulation It will affect both inter-vivo and mortis causa purchases produced since May 28, 2023, as long as they are subject to regional regulations.
“The rule will apply if the deceased (mortis causa acquisitions) or the donated person (inter-individual acquisitions) resides in the autonomous community or the donated real estate is located there,” he explained.
The following was emphasized in the session: This reform does not change the Wealth TaxWithout offering tax relief for taxpayers subject to regional regulations. I was reminded that this was reminded arrangement It sets a maximum marginal rate of 3.75% for cashable bases above €10 million.
On the other hand, Francisco Picó, managing partner of Cuatrecasas’ Finance and Tax department, noted: “Although the norm is solid and positive“There is still a lack of certainty in some cases that absolutely need to be addressed.”
Picó also explained the tools family businesses can use to confront the process of intergenerational change. In this context, analysis of alternative formulas for financing donationsArea division situations or tax emergency insurance coverage in order to protect the taxpayer from possible tax contingencies due to possible changes that may occur in the criteria for benefiting from the tax incentives of the family business regime by the Tax Administration.