TAXES AND RATES

Inheritance Tax

Inheritance Tax is levied when there is a transfer of assets and/or rights from one natural person to another, in this case "mortis causa" (due to death) and free of charge. What we know as an inheritance.

Any increase in assets obtained by inheritance or legacy (free of charge) is subject to this tax. It includes life insurance, provided that the person who has died is the insured.

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.

There are two types of taxpayers or taxpayers who are obliged to pay inheritance tax:

* The heirs.

* The beneficiaries of life insurance (since they may be different from the heirs).