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Thread: Inheritance Tax!

  1. #1
    Join Date
    Nov 2005
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    Default Inheritance Tax!

    I am writing to ask if anyone knows of an English newspaper which has written any articles about the new revision on the Valencian inheritance tax law which apparently has been lowered from 30% to 1% for local residents.

    I found an article about it in The German news paper Costa Blanca Bundschau which sells for 1.80€. It is a front page article in the Nr. 105 issue 25-31/01/2007

    Would love to have this information in English...many thanks

  2. #2
    Join Date
    Feb 2005
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    Default Inheritance tax

    Colina, try posting this on the torrevieja.co.uk site which has more use.

  3. #3
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    Jan 2005
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    Orihuela Costa
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    Default

    There was something about this (I am pretty sure) in the Costa Blanca News a couple of weeks ago which sounded to be of interest to many of us so I am surprised that this is the first mention I have come across on any of the local forums. I will check to see if I still have the edition around somewhere and come back to you.

  4. #4
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    Default Inheritance tax

    It's in the Euro weekly paper, 99% reduction for spouse.

  5. #5
    Join Date
    Nov 2005
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    Default

    Thank you but I cant seem to find it in the
    http://www.euroweeklynews.com/ can you direct me further please

    Thank you

  6. #6
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    Dec 2004
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    Default

    I dont know if you can get it online, but the article is on page 19 of this weeks Euro News.

    It says "New laws have now come into effect in the Valencian Community. There are a number of effects created by this amendment to ISD rules, but the key one revolves around inheritances recieved by spouses and other close relatives who are resident in the Valencian region. Such individuals are now eligible for a 99per cent reduction in ISD. This may seem a very favourable ruling, and for many expatriates it is just that, However, it is impotant to note that this still leaves unmarried couples with potentially large tax bills, and it does not remove the large liabilites for the offspring of most expats, given that they are generally resident outside of the country never mind the region"
    That is only a part of the article, it fills a full page of the paper.
    I still dont understand it, I think the only way is to get advice from an Independant financial adviser. anyway hope it helps.

  7. #7
    Join Date
    Nov 2005
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    Default

    Thanks so much, that is so helpful. I will run out and try and find a Euro Weekly as it seems they do not have the entire newspaper online
    JUst some topics.

    If you married partner who jointly owns a place here with you passes and you are both residents here before you would have had to pay government around 30% of the value of you spouses half to Gov. Now you will only have to pay 1% of the value of the half of your spouse.
    I believe that is the significant change and for the most part it is a huge relief for most

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