In the event that you have received an inheritance in Spain, even if you are a non-resident, you must file a self-assessment for the Inheritance and Donations Tax with the Spanish Tax Agency. The self-assessment form is Form 650. In the Autonomous Community of Andalusia, a recent reduction in the taxable base has been established for spouses and direct relatives in inheritances, for an amount of up to one million euros.<\/p>\n\n\n\n
To qualify for this reduction, the following conditions must be met by the heirs:<\/p>\n\n\n\n
\u2022 Descendants or adopted children under the age of 21.<\/p>\n\n\n\n
\u2022 Descendants or adopted children aged 21 or older, spouses, ascendants, or adoptive parents.<\/p>\n\n\n\n
The following groups are considered equivalent to the above:<\/p>\n\n\n\n
\u2022 Common-law partners registered in the Andalusian Common-Law Partners Registry, or in any similar registry of other public administrations equivalent to Andalusia’s.<\/p>\n\n\n\n
\u2022 Individuals under permanent foster care or guardianship for the purpose of adoption are considered equivalent to adopted children.<\/p>\n\n\n\n
\u2022 Individuals providing permanent foster care or guardianship for the purpose of adoption are considered equivalent to adoptive parents.<\/p>\n\n\n\n
The taxable base for the Inheritance Tax in Spain is determined by the net value of each heir’s individual acquisition.<\/p>\n\n\n\n
Bonus for Inter Vivos Donations<\/strong><\/p>\n\n\n\n In the case of inter vivos donations, taxpayers subject to the Inheritance and Donations Tax who meet the relationship or equivalent conditions mentioned above will benefit from a 99% reduction<\/strong> in the tax quota derived from inter vivos donations, provided that the donation is formalized in a public document within the tax filing deadline and the origin of the funds is justified when the donation is in cash. The deadline to file the tax self-assessment and submit the required documentation is 30 business days<\/strong> from the day following the inter vivos donation.<\/p>\n\n\n\n If you would like more information about accepting your inheritance in Spain, do not hesitate to contact<\/strong> our team of lawyers and economists in Marbella.<\/p>\n","protected":false},"excerpt":{"rendered":" In the event that you have received an inheritance in Spain, even if you are a non-resident, you must file a self-assessment for the Inheritance and Donations Tax with the Spanish Tax Agency. The self-assessment form is Form 650. In the Autonomous Community of Andalusia, a recent reduction in the taxable base has been established […]<\/p>\n","protected":false},"author":3,"featured_media":1761,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-1884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-heritage"],"acf":[],"yoast_head":"\n