Inheritance and its taxes. Are they the same in all communities?

 In Real estate, Taxation, Uncategorized

Inheritance tax is by far the least popular tax in Spain. The question many people ask themselves when they inherit a property is: Why do I have to pay for something my parents already paid? In addition, the amounts to be paid vary depending on the autonomous community, so indignation and bewilderment increase considerably.

inheritance

Source: Colegio General de Economistas

Despite changes in the inheritance tax in January 2018, the differences are usually significant. While in Madrid the amount to be paid for patrimonial transmissions is the lowest, Aragón takes the highest percentage to be paid. These differences run counter to Art. 14 of the Constitution which states that “taxes must be fair, equitable and must not have tax collection.”

Given this, there are few who decide to make donations before receiving an inheritance. But what is the difference between one and the other? And advantages?

Not everything is so simple. Before deciding, one must see what kind of inheritance it is, what elements are inherited and their value since, in general, donations are more burdensome for the purposes of taxation. The general rule distinguishes if the child is more or less than 21 years old and, taking this into account, it will be seen whether or not there are more tax advantages since, when the descendant has not reached that age, it will be higher.

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