This article has been updated 2024
Very large reduction to inheritance tax in the Valencia Region. Basically no more inheritance tax for children, parents os spouse.
The new president of Regional Government for the Valencia Region , Carlos Mazón, has reported on the agreements discussed in the first meeting of the Consell Plenary.
The first measure adopted by the new Consell is a drastic reduction of the gift and inheritance tax in the Region.
It will have retroactive effect from May 28, 2023, when the regional elections in Spain were held.
The new president claimed:
“We will never again have to pay twice for the effort and sacrifice of a lifetime.”
The president of the Generalitat has wanted to justify the reason behind the elimination of these taxes.
“The application of this tax often represents a serious economic detriment to many families”
The president of the Generalitat has chaired the first Plenary of the Consell of the XI legislature in Alicante, with the presence of the 9 councillors who make up the new Valencian government.
Carlos Mazón has wanted to highlight the data that support this decision.
“The increase in renunciations to inheritances in just the first quarter of this year has risen by 24% compared to the first quarter of the previous year, with 1,558 Valencians renouncing their inheritance. In the last legislature, there were over 20,800 renunciations to inheritances in the Valencian Community,” explains the president of the Valencian Community.
Mazón has explained that it consists of establishing a 99% discount for descendants, parents and spouse on the tax amount. Also on the books will be application of discounts to gifts (for the first time).
Valencia Región therefore joins Andalucia, Madrid , Murcia and Baleares as the best places to invest in from the point of view of inheritance tax. B
