In binding consultation V1903-23, issued on June 30, 2023, the Directorate General of Taxes clarifies to a resident whether he should be taxed in Spain for Inheritance and Gift Tax when receiving a monetary donation from abroad. In this case, a son received a monetary donation from his mother from Argentina, proceeds from the sale… Continue reading Tax advisor: Tributes highlights the location of taxation for monetary gifts from abroad
Tag: Inheritance and Gift Tax
Tax advisor: Balearic Islands eliminates Inheritance and Gift Tax in some cases and decreases Transfer Tax and Stamp Duty when acquiring properties
The tax fight between the autonomous communities experiences a new advance reaching the Balearic Islands. In that sense, they have announced the elimination of Inheritance and Gift Tax on acquisitions between parents and children, grandparents and grandchildren and between spouses. In addition, they have reduced Transfer Tax and Stamp Duty on the purchase of first… Continue reading Tax advisor: Balearic Islands eliminates Inheritance and Gift Tax in some cases and decreases Transfer Tax and Stamp Duty when acquiring properties
Tax Advisor: In which Autonomous Communities is Inheritance and Gift Tax not paid?
Regarding Inheritance and Gift Tax, when death occurs, it must be paid in the Autonomous Community where it has occurred. As it derives in an increase of wealth, the inheritance must be declared, being a progressive tax due to the fact that the amount varies according to the inherited amount. The maximum period to declare… Continue reading Tax Advisor: In which Autonomous Communities is Inheritance and Gift Tax not paid?
Tax advisor: Is the ISD kinship reduction applicable in the consolidation of the domain if the self-assessment for the inheritance that gave rise to the dismemberment was not filed and the debt is time-barred?
The liquidation office issued a complementary liquidation due to the fact that the self-assessment for the consolidation of the domain was made applying a reduction that was not appropriate. According to them, no reduction should have been applied at the time of acquisition of the bare ownership, since it would have been consumed in the… Continue reading Tax advisor: Is the ISD kinship reduction applicable in the consolidation of the domain if the self-assessment for the inheritance that gave rise to the dismemberment was not filed and the debt is time-barred?
Tax advisor: The jumping error in the Inheritance and Gift Tax (ISD) does not occur when a reduction is not applied, since there has not been an increase in the tax amount that exceeds the established base.
The objective of this appeal, from the perspective of the objective interest in the formation of case law, is to determine, when interpreting article 56.3 of the General Tax Act (LGT), what should be the criterion for determining the existence of the leap error. This is done either by taking as a reference the taxable… Continue reading Tax advisor: The jumping error in the Inheritance and Gift Tax (ISD) does not occur when a reduction is not applied, since there has not been an increase in the tax amount that exceeds the established base.