Inheritance, Gifts and Property Transfer Tax

These three different taxes are levied on the change of ownership of a good, so it is important to be aware of them even if you are not a tax resident in Spain.

What do these taxes levy?

Inheritance tax will be levied on those assets that are inherited. The tax rate at which they will be taxed varies depending on where you inherit the goods, who you inherit the goods from, what type of goods you inherit and whether or not you are a tax resident in Spain.

The gift tax will be levied on the change of ownership of goods free of charge. The tax rate at which they will be taxed will depend on

The tax on honorary transfer of goods will be levied on the sale of real estate or movable goods between individuals, as a general rule.

How can a lawyer help me?

As can be seen in the previous section, these taxes depend on many factors, so it is very important to contact an expert to know exactly how to proceed for the correct payment of taxes and thus avoid penalties from the tax authority.

On the other hand, a lawyer will also be able to tell you how to proceed in the most fiscally beneficial way within the legality to save you money.

 

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What are the deadlines for filing taxes?

For inheritance tax, there will be 6 months from the time of death of the owner of the assets to be inherited.

For gift tax, there will be one month from the moment the inherited assets are received.

For the tax on the transfer tax, there will be a period of 30 working days to file the tax from the moment in which the sale or the situation that generates the payment of the tax takes place.

Find your Tax Lawyer

Jose García

Head of Tax Department
Sergi Mingallon

Sergi Mingallon

Tax and accounting specialist

Frequently Asked Questions

Yes, if the apartment is located in Spain you will have to pay taxes even if you are not a tax resident in Spain. In case the apartment was donated, as it is located in Spain, you will also have to pay taxes in Spain.

Yes, there are quite a few exemptions but they vary greatly depending on the type of good you are inheriting, your personal situation (your net worth) and the region of Spain you are in.

The person acquiring the apartment will be responsible for filing and paying the transfer tax. The tax rate will vary depending on where the property is located but will be around 7%.

These types of donations have an exemption but, once again, it will depend on personal situations. In Catalonia this exemption can be applied provided that you are under 36 years old, that in your last income tax return you have declared an income of less than €36,000 and the maximum exemption percentage will be €60,000.

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