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Inheritance Tax Removed in the Canaries Inheritance Tax Removed in the Canaries
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Old 12-05-08, 12:34
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Default Inheritance Tax Removed in the Canaries
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Inheritance Tax virtually eliminated in Canarias

From this month ( Feb 2008) Inheritance Tax has virtually disappeared in the Canary Islands, due to a decision by the regional government to grant a reduction of 99.9% in the tax rate for inheritance between close relatives (parents, children, spouses and family partners). This decision brings the Canary Islands in line with most of the Regions, e.g. Madrid, Valencia and Murcia.
Recieved this in our February newsletter from Ciudadnos Europeos Islas Canarias


Also had this link ..... en Espanol.

http://www.gobiernodecanarias.org/tr...s_fiscales.pdf
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Old 12-05-08, 16:37
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Originally Posted by PeeJay View Post
Recieved this in our February newsletter from Ciudadnos Europeos Islas Canarias


Also had this link ..... en Espanol.

http://www.gobiernodecanarias.org/tr...s_fiscales.pdf

Well this must be great news for all concerned ...
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Old 12-05-08, 17:38
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this is the first year i will pay this tax (or get something back... one can always be hopefully) and am grateful for it being the last year as well
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Old 12-05-08, 18:12
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this is the first year i will pay this tax (or get something back... one can always be hopefully) and am grateful for it being the last year as well
No no, that's Wealth Tax you're talking about! The thread is HERE.
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Old 12-05-08, 19:50
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No no, that's Wealth Tax you're talking about! The thread is HERE.
oops! i did actually the think the thread looked a bit different all of a sudden. don't mind me... i'll be a good girl and go to my room now
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Old 13-05-08, 20:41
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I can't open the document that PeeJay put in his original post, so excuse me if I am about to repeat something. I have been speaking to my accountant today about inheritance tax. The scrapping of it only applies to resident who can prove that they have lived legally in the Canary Islands for at least five years.
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Old 14-05-08, 02:09
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Yes, that's right ... give me a couple of days and I'll translate the thing. Just not right now
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Old 14-05-08, 06:17
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Originally Posted by Karen View Post
I have been speaking to my accountant today about inheritance tax. The scrapping of it only applies to resident who can prove that they have lived legally in the Canary Islands for at least five years.
I haven´t read the document, but still consider it an important milestone which could be very beneficial for someone who is considering moving here. None of us know when our time will be up, but anyone in their 40´s, 50´s or 60´s will have a life expectancy of at least 5 years.
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Old 14-05-08, 06:22
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I haven´t read the document, but still consider it an important milestone which could be very beneficial for someone who is considering moving here. None of us know when our time will be up, but anyone in their 40´s, 50´s or 60´s will have a life expectancy of at least 5 years.
This is very encouraging - only 18 months to go. Is there a clause about exemption over the age of 65, or am I confusing this with CGT?
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Old 14-05-08, 07:43
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CGT carries a resident exemption for 65+ year olds.
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