{"id":3993,"date":"2020-02-03T11:31:46","date_gmt":"2020-02-03T11:31:46","guid":{"rendered":"https:\/\/decottalaw.redlinecompany-hosting.com\/?p=3993"},"modified":"2020-02-26T16:50:24","modified_gmt":"2020-02-26T16:50:24","slug":"canary-islands-igic-inheritance-and-donation-tax-2020","status":"publish","type":"post","link":"https:\/\/decottalaw.redlinecompany-hosting.com\/nl\/canary-islands-igic-inheritance-and-donation-tax-2020\/","title":{"rendered":"Canary Islands: IGIC,Inheritance and Donation Tax 2020"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Canary\nIslands Budget Law for 2020 came into force on 01\/01\/2020 and includes the\nfollowing tax changes: the IGIC general rate (the general Canary Islands VAT\nrate) increased to 7%; in respect of Inheritance Tax, the 99.9% allowance is\napplicable to Group I beneficiaries (descendants\/adopted children under 21 years)\nand a variable progressive relief is applicable to Group II (issue and adopted\nissue of 21 years or more, spouses, parents) and Group III (brothers\/sisters,\nuncles\/aunts, nephews\/nieces, etc.) depending on the amount of the inheritance\ntax to be paid by each tax payer: in this case the 99.9% inheritance tax\nallowance is applicable up to 55,000\u20ac and then reduced allowances are\napplicable to the amount of the tax to be paid as from 55,000\u20ac &#8211; if the total\ninheritance tax to be paid is more than 305,000\u20ac the allowance will only be a\n99.9% on 55,000\u20ac.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In respect\nof Donation Tax, the same variable progressive relief is applicable to Group II,\nand the 99.9% allowance is applicable to Group I. For more information or a consultation please call us on 922 719520 or\nemail <a href=\"mailto:tenerife@decottalaw.net\">tenerife@decottalaw.net<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Canary Islands Budget Law for 2020 came into force on 01\/01\/2020 and includes the following tax changes: the IGIC general rate (the general Canary Islands VAT rate) increased to 7%; in respect of Inheritance Tax, the 99.9% allowance is applicable to Group I beneficiaries (descendants\/adopted children under 21 years) and a variable progressive relief [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":3984,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28,22,23,26,31],"tags":[],"office-cat":[18],"service-cat":[],"class_list":["post-3993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-legal-partners","category-civil-law","category-conveyancing-property-law","category-family-law","category-tenerife-office","office-cat-tenerife"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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