Every Autonomous Community has its own regulations about the Spanish inheritance tax.
Who is bound by the Spanish inheritance tax Taxpayers who have their habitual residence in Spain, regardless of where are located the properties or rights inherited. Are also required to pay the tax, the non-residents in Spain receiving property and / or rights located in Spain by the way of inheritance. Likewise will be obliged by the Spanish inheritance tax, the reception of amounts resulting from life insurances when the contract was made with Spanish insurers or has been hired in Spain with foreign entities which operate in the Spanish territory. The tax base of the inheritance tax in Spain The tax base of the inheritance tax in Spain is the net value of the individual acquisition of each heir, being understood as the real value of the property and rights reduced by any charges and debts that may be deductible in accordance with the State or Autonomous communities regulations.
The law of the deceased’s nationality applies to inheritance. The main laws regulating inheritance are the Portuguese Civil Code, fifth book (articles 2024 to 2334) and book one (articles 62 to 65).
At present inheritance tax between spouses or direct line (children, grandchildren, parents grandparents etc.) is exempt, i.e. zero. Other inheritors will pay 10% inheritance tax.
The main laws regulating inheritance are the Portuguese Civil Code, fifth book (articles 2024 to 2334) and book one (articles 62 to 65).
