{"id":6262,"date":"2013-08-29T12:08:00","date_gmt":"2013-08-29T12:08:00","guid":{"rendered":"https:\/\/www.white-baos.com\/from-now-in-the-valencian-community-we-will-need-to-pay-more-pay-more-taxes-for-purchases-transfer-tax-and-succession-and-gifts-inheritance-and-gift-tax\/"},"modified":"2020-09-10T07:24:36","modified_gmt":"2020-09-10T07:24:36","slug":"from-now-in-the-valencian-community-we-will-need-to-pay-more-pay-more-taxes-for-purchases-transfer-tax-and-succession-and-gifts-inheritance-and-gift-tax","status":"publish","type":"post","link":"https:\/\/www.white-baos.com\/en\/from-now-in-the-valencian-community-we-will-need-to-pay-more-pay-more-taxes-for-purchases-transfer-tax-and-succession-and-gifts-inheritance-and-gift-tax\/","title":{"rendered":"From now in the Valencian Community, we will need to pay more pay more taxes for purchases (Transfer Tax), and succession and gifts (Inheritance and Gift Tax)."},"content":{"rendered":"
Dear Readers,<\/span><\/p>\n
Unfortunately and in line with the last years, the taxes in the Valencian Community, that means the provinces of Alicante, Valencia and Castellon, have been raised again.<\/span><\/p>\n
Thus, from this 6th August 6, 2013 came into force the Decree Law 4\/2013, of the 2nd of August, which has modified several taxes transferred to the Valencia Community foreseen in the Law 13\/1997.<\/span><\/p>\n
Highlights of these changes:<\/span><\/p>\n
<\/p>\n

<\/p>\n

TRANSFER TAX FOR REAL ESTATE AND PROPERTY. <\/b><\/p>\n

<\/font><\/p>\n

From now in the Valencian Region, with the recent amendment of Article 13 of Law 13\/1997, in a resale and sales between private property owners, we will pay Transfer Tax at the rate of 10% instead of 8%.<\/p>\n

<\/font><\/p>\n

With this change, the transmissions between individuals equal to sales subject to VAT (i.e. purchase of new properties from developers…) because from the beginning of the year the VAT was increased also up to 10% .<\/p>\n

<\/font><\/p>\n

<\/p>\n

<\/p>\n

INHERITANCE AND GIFT TAX (IHT).<\/b><\/p>\n

<\/font><\/p>\n

These changes will not affect when the deceased or donor, or the beneficiary of the estate or grantee, are not tax resident in Spain, because if so, shall apply national Inheritance and Gift Tax Law (IHT) and not the Valencian IHT Law.<\/p>\n

<\/font><\/p>\n

<\/p>\n

<\/p>\n

INHERITANCE:<\/b> It has been lowered to 75% the tax bonus that before was at 99%, in the inheritance tax to be paid when the heirs are the testator\u2019s children, parents or spouses, and as far as these heirs are habitually residents in the Valencian Region at the date of death.<\/p>\n

<\/font><\/p>\n

<\/p>\n

<\/p>\n

DONATIONS: <\/b>Also has been lowered down to 75%, the bonus which was of 99%, in Gift tax for donations in favor of the parents or children. Besides this bonus has now a limit of \u20ac150,000 instead of \u20ac 420,000.<\/p>\n

<\/font><\/p>\n

Although, not all are bad news, there is a positive tax change because the general reduction in Inheritance tax and Gift Tax, goes from 40,000\u20ac up to 100,000\u20ac.<\/p>\n

<\/font><\/p>\n


<\/i><\/p>\n

<\/p>\n

The information provided in this article is not intended to be legal advice, but merely conveys general information related to legal issues<\/i>.<\/p>\n

<\/font><\/p>\n

<\/p>\n

<\/p>\n

White & Baos<\/p>\n

<\/font><\/p>\n

Tel: 0034 966 426 185 <\/p>\n

<\/font><\/p>\n

E-mail: info@white-baos.com<\/p>\n

<\/font><\/p>\n

White & Baos 2013 \u2013 All rights reserved<\/p>\n

<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

Dear Readers, Unfortunately and in line with the last years, the taxes in the Valencian Community, that means the provinces of Alicante, Valencia and Castellon, have been raised again. Thus, from this 6th August 6, 2013 came into force the Decree Law 4\/2013, of the 2nd of August, which has modified several taxes transferred to […]<\/p>\n

Read More…<\/a><\/p>\n","protected":false},"author":2,"featured_media":1139,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[427,412,434,428,411],"tags":[],"class_list":["post-6262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-property-in-spain","category-conveyancing-buying-selling-letting-planning-permission-etc","category-inheritance-and-gift-tax-planning-death-duties-taxes-iht-i-h-t","category-selling-property-commercial-and-residential-in-spain-and-the-uk","category-wills-probate-inheritance-matters-inheritance-tax-iht"],"yoast_head":"\nFrom now in the Valencian Community, we will need to pay more pay more taxes for purchases (Transfer Tax), and succession and gifts (Inheritance and Gift Tax). - White & Baos, Abogados & Solicitors<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.white-baos.com\/en\/from-now-in-the-valencian-community-we-will-need-to-pay-more-pay-more-taxes-for-purchases-transfer-tax-and-succession-and-gifts-inheritance-and-gift-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"From now in the Valencian Community, we will need to pay more pay more taxes for purchases (Transfer Tax), and succession and gifts (Inheritance and Gift Tax). - White & Baos, Abogados & Solicitors\" \/>\n<meta property=\"og:description\" content=\"Dear Readers, Unfortunately and in line with the last years, the taxes in the Valencian Community, that means the provinces of Alicante, Valencia and Castellon, have been raised again. Thus, from this 6th August 6, 2013 came into force the Decree Law 4\/2013, of the 2nd of August, which has modified several taxes transferred to [...]Read More...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.white-baos.com\/en\/from-now-in-the-valencian-community-we-will-need-to-pay-more-pay-more-taxes-for-purchases-transfer-tax-and-succession-and-gifts-inheritance-and-gift-tax\/\" \/>\n<meta property=\"og:site_name\" content=\"White & Baos, Abogados & Solicitors\" \/>\n<meta property=\"article:published_time\" content=\"2013-08-29T12:08:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-10T07:24:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.white-baos.com\/wp-content\/uploads\/2020\/07\/CONVEYANCING-green.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"480\" \/>\n\t<meta property=\"og:image:height\" content=\"197\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Carlos Baos\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Carlos Baos\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.white-baos.com\/en\/from-now-in-the-valencian-community-we-will-need-to-pay-more-pay-more-taxes-for-purchases-transfer-tax-and-succession-and-gifts-inheritance-and-gift-tax\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.white-baos.com\/en\/from-now-in-the-valencian-community-we-will-need-to-pay-more-pay-more-taxes-for-purchases-transfer-tax-and-succession-and-gifts-inheritance-and-gift-tax\/\"},\"author\":{\"name\":\"Carlos Baos\",\"@id\":\"https:\/\/www.white-baos.com\/en\/#\/schema\/person\/f25c24bff20eb2992c5efbed4dea4bc3\"},\"headline\":\"From now in the Valencian Community, we will need to pay more pay more taxes for purchases (Transfer Tax), and succession and gifts (Inheritance and Gift Tax).\",\"datePublished\":\"2013-08-29T12:08:00+00:00\",\"dateModified\":\"2020-09-10T07:24:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.white-baos.com\/en\/from-now-in-the-valencian-community-we-will-need-to-pay-more-pay-more-taxes-for-purchases-transfer-tax-and-succession-and-gifts-inheritance-and-gift-tax\/\"},\"wordCount\":356,\"publisher\":{\"@id\":\"https:\/\/www.white-baos.com\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.white-baos.com\/en\/from-now-in-the-valencian-community-we-will-need-to-pay-more-pay-more-taxes-for-purchases-transfer-tax-and-succession-and-gifts-inheritance-and-gift-tax\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.white-baos.com\/wp-content\/uploads\/2020\/07\/CONVEYANCING-green.jpg\",\"articleSection\":[\"Buying property commercial and residential in Spain\",\"CONVEYANCING: buying, selling, letting, planning permission, etc.\",\"Inheritance and Gift Tax Planning. 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