VOX proposes tax credits for inheritances received between siblings, exceptionally for the year 2020. By means of a Proposition not of Law VOX calls for special treatment of inheritances received between siblings. It would affect the inheritance and donation tax, for the siblings of those who died as a result of covid-19.

VOX proposes that this bonus be applied to all inheritances received between siblings from January 1 to December 31, 2020.

Against the tax collection effort

The effects caused by the COVID-19 epidemic have not only been devastating from a health point of view. The impact on family economies will also have a similar result if the Government does not react to prevent it.

The administration should not increase the suffering of citizens. Nor the economic stress that this pandemic is assuming, with a public tax collection effort that could destroy the economic stability of the Aragonese. The incalculable personal loss of family members cannot be increased by punishing citizens with an additional economic loss that is difficult to solve.

The dramatic increase in deaths places their families in a difficult situation. In particular, before the requirement of the Government of the autonomous community to settle the Inheritance and Donations Tax. And especially in the case of the liquidation of the tax for the brothers of the deceased as a result of covid-19.

Most of the assets that will be inherited are real estate. And given the obvious slowdown in the real estate market in the coming months, there will be damage to the family members responsible for receiving these inheritances. Something that can even cause the renunciation of the inheritance, due to the lack of liquidity to be able to meet the tax costs.

From the VOX Parliamentary Group in Aragon we raise the need to respond to this difficulty added to the loss of a loved one. And that generates financial uncertainty in the family member on which it falls.

Incidence in Inheritance Tax

Given the structure of the Inheritance and Gift Tax in Aragon, the foregoing will not have a significant influence on Groups I and II of the Inheritance Tax. However, it will fully affect Group III. Adding to the corresponding negative effect of losing a loved one, the fact that an inheritance cannot be received due to the impossibility of facing the economic cost that it will entail.

The Law of Measures Relating to Inheritance and Gift Tax introduced a 100% reduction in the acquisition mortis causa corresponding to the spouse. Or descendants of people who die in the Autonomous Community.

The reform equated the stable unmarried couple to the spouse, according to the regulation and requirements of the Code of Foral Law of Aragon. Likewise, it contemplated an improvement in the reduction in favor of the spouse, ascendants and descendants.

However, in the case of siblings, the reduction left these relatives at a clear disadvantage when it came to inheriting assets.

VOX intends to abolish the Inheritance Tax. But, in the short term, we request an intermediate and exceptional measure, which can be assumed by the Autonomous Aragonese Administration. That inheritances received between siblings have the same tax treatment as inheritances received by family members detailed in Group II of the Inheritance and Gift Tax.



Source of the new

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *