Inheritance Tax – Spence Clarke

Valencia takes a step forward: Wealth Tax reduction and aligned inheritance reforms

14/07/202502/07/2025 by Javier Osorio Soria

On June 2025, the Generalitat Valenciana published Law 5/2025, introducing a set of fiscal measures that suggest a clear shift in approach. Among the most notable is the increase in the wealth tax exemption threshold, which will rise from 500.000€ to 1.000.000€ as from 31 December 2025. This change applies to both resident taxpayers and … Read more

How to Handle Foreign Inheritances and gifts in Spain

13/01/2025 by Javier Osorio Soria

With an increasing number of foreign nationals moving to Spain, it is becoming more common to inherit or receive gifts of assets located abroad. If this applies to you, it is essential to understand where these transactions are taxed to ensure compliance with your tax obligations. Who pays tax and to whom? Unlike in other … Read more

Inheritance planning – using usufructs to pass on the family home tax efficiently

05/04/202309/05/2020 by Alistair Spence Clarke

How to make the best use of usufructs when making inheritance tax planning decisions.

The New Obligation of Gibraltar Financial Institutions to Provide Automatic Exchange of Tax Information to The Spanish Tax Office

05/04/202317/07/2017 by Miguel Ángel Blanca Prieto

As part of the recent agreements of exchange of tax information subscribed by Gibraltar for cooperation in tax matters, the Gibraltar financial institutions will be reporting to the Spanish tax office the relevant tax information of all their account holders, including income on earnings, tax withheld and tax residency status. The first reporting will take … Read more

Taxing times for Spanish inheritance

05/04/202329/10/2015 by Miguel Ángel Blanca Prieto

“In this world nothing can be said to be certain, except death and taxes.” So said American founding father Benjamin Franklin but, in the case of Spain, such a view could be seen as a little simplistic. Yes, everyone dies at some point and then inheritance tax will be due, but how much and where it … Read more

The EU Starts Action Against Spain for its Unfair Inheritance Tax Law

05/04/202303/11/2011 by Alistair Spence Clarke

The European Commission made official complaints against Spain in May 2010 and February 2011 regarding its Inheritance tax legislation. These complaints were ignored and so the EC has commenced an action against the Spanish state through the European courts. Spain’s tax system has become decidedly odd. A little background will help to understand what has … Read more

Tax Office Fights Against Tax Evasion

05/04/202307/04/2010 by Alistair Spence Clarke

The Spanish Government intends to approve a number of changes in legislation to strengthen the tax office’s armoury against the black economy and tax fraud. They propose to modify the Penal Code so that substantial tax fraud may be penalised with up to 6 years (currently four years) in jail. In the Spanish system ‘substantial … Read more