Could you please explain the two cases for an inheritor and applicable tax for a Spanish Resident more than 10 years in Almeria, Andalucia.
1- If the inheritor is a Spanish Resident then what tax will be payable on cash/property receiving in Spain from the deceased from a close relative in Spain who was not Spanish resident?
2- If the inheritor is a Spanish Resident then what tax will be paybale on cash/ property receiving in Spain from the deceased from a close relative in the UK and who was not Spanish resident?
a) Deceased is non-tax resident. If the deceased was resident in a Member State of the European Union or else in the European Economic Area (non-tax resident in Spain) the beneficiary will now benefit from:
• The regional tax allowances where the majority of the assets of the deceased are located in.
• If there are no assets in Spain, the rules of the Autonomous Community where the beneficiary lives apply.
b) Deceased is tax resident and beneficiary is non-tax resident. If the deceased was resident in Spain and the beneficiary is resident in a Member State of the European Union or else in the European Economic Area (non-tax resident) he will benefit from:
• The regional tax allowances where the deceased lived.