Gift tax- Deletions of family allowances announced in the Comunidad Valenciana
The Government of the Comunidad Valenciana is planning according to various media a extensive reform of the gift and inheritance tax (ISD).
According to the current plans from next year on will decrease the actual discounts of up to 75% of the tax rate. However, the allowances of currently 100,000.00 € for close family members (especially descendants) will be maintained.
The corresponding reform is not yet decided. But since it could enter into force very shortly, we recommand our clients to follow the development of parliamentary debate closely. In many cases it may well be advisable to carry out planned gifts still this year. Our experts will gladly advise you on this issue.