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- This topic has 3 replies, 2 voices, and was last updated 5 years, 5 months ago by Raymundo Larraín Nesbitt.
September 16, 2017 at 10:51 pm #216501amarafieParticipant
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?
Appreciate your help and thank you.
September 18, 2017 at 10:54 am #216525Raymundo Larraín NesbittParticipant
This is explained in my article Changes to Spain’s Inheritance and Gift Tax Law – 21st February 2015.
In both cases the inheritor is liable for Spanish Inheritance Tax. More on this tax in my articles:
- Spanish Inheritance Tax for Non-residents (Part I) – 8th March 2016
- Spanish Inheritance Tax for Non-residents (Part II) – 8th March 2016
I. Inheritance Rules
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.
- This reply was modified 5 years, 6 months ago by Raymundo Larraín Nesbitt.
September 27, 2017 at 1:19 pm #216634amarafieParticipant
Many thanks Raymundo for your reply and helpful information.
September 28, 2017 at 11:57 am #216672Raymundo Larraín NesbittParticipant
You are welcome Amarafie.
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