Government celebrating results of inheritance tax elimination in the Balearics
More than 2,000 families have already benefited.
200 people benefit most from Balearic inheritance tax reform
Inheritance tax was guaranteed revenue for the government regardless of the economic situation.
Inheritance and gift tax
The amendment of the legislation completely eliminates inheritance and gift tax for inheritances between parents and children, grandparents and grandchildren and spouses.
Spanish succession tax in the Balearics
SSGT applies to inheritances and lifetime gifts. It is due when the beneficiary is resident in Spain, or the asset being gifted or inherited is a Spanish asset.
Determining and proving domicile
To acquire a domicile of choice you must be physically present and tax resident in your new country and intend to live there permanently or indefinitely.
Finance
Tourist tax to be included in 2016 budget
The government has included the tourist (or eco) tax in its budget forecast, even though it has yet to be decided when and how it will be implemented.
- Spain wants Britons to show they have 113.40 euros, £97, per day for their holidays
- Major security alert at Mallorca airport, surprise landing of flights from Morocco and Namibia
- Big changes on the horizon when Britons travel to Mallorca
- Over two hours for Britons to get through Palma airport queues
- Watch those prices in Mallorca
Comment
Leaving money to family members? - Stand-by for a punch-up!
You don’t have be among the usual recognisably rich to any extent - if, when you die may have in terms of property and savings a few hundreds of thousands of pounds to pass on to assorted family members.
Frank Leavers29/03/2024 09:31