Madrid continues to implement tax cuts
Reduction in inheritance tax Madrid
- Madrid plans to reduce the inheritance tax between siblings, as well as between uncles/aunts and nephews/nieces. Reductions of 15% and 10% will apply on the calculated inheritance tax.
- A reduction of 99% already applies for the tax on inheritances between parents and children in Madrid.
Regional differences, Madrid advantageous
In Spain, the 17 autonomous regions are allowed to apply tax rates that deviate from the general rates.
- The wealth tax is in its entirety exempt in Madrid.
- The income tax rates in Madrid are among the lowest in Spain.
Emigrate to Madrid?
Foreigners who decide to emigrate to Spain, often prefer to live close to the seaside. However, apart from a bustling city life and the central location in Spain (the seaside and winter sport locations are only a few hours’ drive away), the fiscal climate could also be a reason to include Madrid on the short list.
For more information about Madrid, click Madrid, Wikipedia.
Do you want an overview of the general tax rates in Spain? See here under:
Brochure Tax Rates Spain 2018
Download free and without any obligation our brochure Tax Rates 2018, with the current tax rates for companies, individuals and real estate:
The document concerns a pdf file of an ‘easy to read’ 19 pages power point presentation. A ‘must have’ for advisers who have clients with business, family or a holiday home in Spain.
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Are you not living in Spain but interested to come to the country with the best mix of food, climate, culture, beach, mountains, wintersport, etcetera, etcetera, we offer also for free the following information:
- Starting a Business in Spain: A Company in Spain, Incorporation, Legal, Tax & Accounting (download)
- Buying a house in Spain: Information about practical tax & legal issues (mail us, see below)
- Emigrating to Spain: Information about tax obliations and tax returns (mail us, see below)
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