TAXES AND RATES

Donation Tax

The Gift Tax occurs when there is a transfer of assets and/or rights from one physical person to another, in this case "inter vivos" (between living persons) and free of charge. What we know as a donation.

Any increase in assets obtained by donation (free of charge) is subject to this tax.

In Spain, the collection, verification and management corresponds to the autonomous communities, so the differences affect both the tax rates, possible deductions or minimum exemptions.

The tax must be declared by physical persons who receive the assets and rights free of charge. Legal persons will not have to file a declaration for the Gift Tax, in which case the donation will be taxed by the Corporate Tax.