Spanish Inheritence Tax

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This topic contains 4 replies, has 3 voices, and was last updated by Profile photo of Anonymous Anonymous 4 years, 7 months ago.

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  • #56630
    Profile photo of Anonymous
    Anonymous
    Participant

    I have noticed that if you die with a spanish property your beneficiaries have to pay IRT starting at 7500 Euro. It has to be paid within 6 months and they cannot use any money in your Spanish Account ! Good reason not to keep much in a Spanish account but it makes not much sense if they want their banks to thrive does it . But if the property is not sold how is the tax assessed. Because not knowing how much total there will be I propose toi just give percentages to each beneficiary of the total available.

  • #108483
    Profile photo of Anonymous
    Anonymous
    Participant

    Most things in Spain dont make sense !!!!!!!!!!

  • #108484
    Profile photo of Anonymous
    Anonymous
    Participant
  • #108502
    Profile photo of Anonymous
    Anonymous
    Participant

    I watched that U Tube bit and understand the point having queued at the Sumo office for one of these In Contact Bus cards for Global. I rarely use it now as it often catches you for as much as you save 1 I am of the feeling from my further readings that property is given an annual indexation of the purchase price that is the use to assess the tax but I am not certain from readings yet whether or not this ceased in 2006? But I know there is indexation of cadastral values for IBI and the principle might be similar in which case this is helpful for Inheritence tax ?

  • #108503
    Profile photo of Anonymous
    Anonymous
    Participant

    PS generally I now use the AB point to point bus cards that give you 20% off 10 journeys most of the time and you get them from some bookshop -biblioteque outlets and you can get them at San Telmo and the Yumbo.

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