Tag Archives: Civil Code Subject

There is no exemption from inheritance tax or gifts tax on transfers between spouses as there is in the UK and France. It is the donee or beneficiary who is chargeable to tax (not the Executors or Administrators). Tax is … Continue reading →

Residents: Short term Capital gains of residents are taxed as income. Long term gains are now taxed at the following rates: Taxable Base Rate From To Applicable €0.00 €6,000.00 21% €6,000.01 €24,000.00 25% €24,000.01 Onwards 27% Gains made on the … Continue reading →

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The total tax payable is the sum of the tax calculated on two scales– the State Scale (Escala General) and the Scale of the Autonomous Region’s scale (Escala Autonomica). The Regional Government determines the latter. Earned Income For example the … Continue reading →

Foundations are rarely used in Estate planning. Foundations are only permitted for  ‘fines de interés general’ such as the protection of human rights, or for the benefit of victims of terrorism, or to promote scientific sporting or cultural interests etc … Continue reading →

i. Family law: Separation of Goods – each spouse owns their own property. Community of property (gananciales) – All assets acquired during the marriage except by gift or inheritance are automatically owned in equal shares. ii. Inheritance rules: These vary … Continue reading →