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Taxes, Inheritance rights in Spain, Tax allowance and inheritance, Reduction of inheritance taxes

Droits de succession en Espagne, Abattement fiscal et succession, Réduction d’impôts de succession

The taxation of inheritance, in Spain, falls within the competence of each autonomous region. Most autonomous regions apply an allowance of 100,000 euros as well as a tax reduction of 99%. Thus, in the Valencian Community, for example, the value of the estate inherited by the surviving spouse or descendant must, alone, exceed 1,000,000 euros, to be taxed up to 2,500 euros in accordance with inheritance rights. 

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