This deletion taxes Legacy and Donations Speed up the express lane. It was the first measure taken by the PP and Vox Council plenary before the 23 July elections, and it was beyond the symbolism of launching legislative action with a tax cut (one of Carlos Mazón’s flags) after eight years in opposition. campaign), processing is currently taking its first steps under the heading “urgency” in the Official Journal of the Generalitat Valenciana.
Last Thursday the DOGV released the opening of the mandatory public consultation period to change any law. In this case, the two articles of Law No. 13/1997 regulating regional taxes and, more specifically, bonuses and conditions applicable to Inheritance and Gift taxes. According to regional and state regulations, this stage at which citizens can submit their claims must be “at least one month” unless, as with this measure, their action is declared urgent.
Thus, the public disclosure period opened by Consell is reduced to ten business days from the day it is published in the official gazette, instead of one month. That is, it will last from last Friday until the 4th and until August 18 (15th of which is considered a holiday and also a non-working day). From there, the possible claims will be analyzed and the text (today a bill) will be returned. The Ministry of Finance this will lead to Consell’s plenary meeting, which will give its approval and will then need to be approved by Corts.
This has to be at the earliest in September, when the parliamentary session begins. However, once approved it will not affect its effects. As Mazón explained when the process was approved at Consell’s plenary session, retrospectivity will be as planned: any bequests or donations eligible for the bonus collected as of 28 May will benefit. That’s something the bill itself highlighted when PP and Vox got the absolute majority in the polls.
“It has been determined that the measure benefits taxable events that have occurred since 28 May 2023, is a suitable norm for taxpayers in general, and that the measure in question does not violate the constitutional principles of non-retroactivity or legal certainty,” he said. The Ministry of Finance. “However,” he adds, “it is recommended that this project be put into action urgently to ensure that taxpayers receive the benefit as soon as possible. tax income this without creating an increase in tax administration costs”. In other words, having to return money from the public coffers.
“difficult” tribute
The bill also the rationale and finesse of the suppression of these taxes. In this sense, he details the “many years” Inheritance Tax had “minimal impact” on citizens, but “in the most difficult years of the crisis” the bonus was reduced from 99 to 75% with the coming to power of the PP. Two very different explanations for the reasons for the two same actions, but from governments of different colors, while “from 2017 (already with Botànic) an attempt has been made to maximize collection purpose by further reducing current cuts.”
“Application inheritance tax The document assumes that, in many cases, there has been very serious economic damage to many families. It was subject to public consultation, insisting that “there is a low incidence in total public income compared to the inheritance tax, which is heavy for families.” They calculate that it did not reach 1% in total. Generalitat was planning to collect around 400 million euros from these taxes in 2023.
The preliminary draft reminds us that currently in the Community of Valencia the tax bonus is 50% overall, “except for boys and girls under 21 years old. or persons with some degree of physical, sensory or mental disability, and in these cases the discount reaches 75 percent”. With your application, a bonus of 99% of the tax quota is approved. in mortis causa acquisitions for descendants, descendants, and spouses, and a similar benefit is brought for acquisitions through donations or other lucrative inter-animate actions in favor of the donor’s spouse, parents, adopters, children, or adopters.