Numerous Treasurys of autonomous communities confirmed this from 2024. It will reduce Inheritance and Donation Tax for all people who inherit. The tax falls under regional jurisdiction, and the regions themselves decide how much and how to apply it.. This amount must be paid by citizens residing in Spain when they become the beneficiaries of the inheritance because a change has occurred in their assets.
When a family member dies and leaves their inheritance to you, that’s totally a problem because Few heirs understand the best way to avoid paying so much tax. There is also an important factor to understand about this tax that depends on the city you live in, but as a general rule, the more you inherit, the more you pay. Every thing is change If you are under 21, because you are exempt in most cases to pay this tax.
In 2023, many regional governments took the following measures: reduce the amount of this tax collection. In other cases, it was decided to completely exclude it from the list of regional taxes due to its excessive cost. The number of inheritances has increased in recent years as a result of the pandemic and longevity, among other problems. However, the number of heirs who resigned because they could not pay this tax also increased.
What changes will happen in 2024?
asturias
In Asturias, grandchildren or adopted children under the age of 21, as well as spouses, descendants or older adoptive heirs, will be exempt from paying taxes of up to 300,000 euros.
Estremadura
The Extremaduran community offers a 99% bonus to all heirs with no money limit.
Aragon
In this community, a 65% bonus is given as long as the inheritance does not exceed 100,000 euros. Otherwise, the relevant tax will need to be paid.
Catalonia
One of the most complex situations arises here: Heirs under the age of 21 whose inheritance is less than 100,000 Euros do not pay taxes. This limit is maintained if the beneficiary is a spouse, but for grandchildren this limit is reduced to 50,000. If you do not meet any of these relationships, you will have to pay the relevant money.
Galicia
Here, there is a limit of 400,000 Euros for descendants and adoptees, spouses, descendants and adoptees aged 21 and over.
Murcia
Murcia has a 99% bonus in all cases with no money limit.
Madrid
There is another place in Madrid where there are many alternatives: immediate family members have a 99% bonus, while for siblings it is 15%. If the heir is the nephew, he must pay 10% of what is received.
Castile and Leon
All heirs have a limit of 400,000 euros and victims of gender-based violence receive a 99% bonus.
Andalusia
In Andalusia the maximum limit is one million euros. From there the corresponding percentage will be paid.
rioja
All heirs have a 99% bonus.
Valencian Community
In this region, 99% of inheritance is subsidized by spouse, descendants and descendants.
Balearic Islands
This tax does not exist in any case.