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The elimination of gift tax in the Region of Murcia for siblings, uncles, aunts and nephews comes into force.

This is known as kinship group III. Last year, 33,746 Murcians benefited from the rebate in groups I and II.
The Regional Minister Luis Alberto Marín and the director of the Tax Agency of the Region, Juan Marín. CARM

The elimination of gift tax in the Region of Murcia comes into force for siblings, uncles, nephews, nieces, nephews, in-laws, daughters-in-law, sons-in-law, stepchildren or step-parents. This is the so-called kinship group III. This 99% rebate on this tax takes effect from 1 January and can already be applied for at the Murcia Region Tax Agency, as confirmed by the Regional Minister for the Economy, Luis Alberto Marín. Luis Alberto Marín.

Last year 33,746 Murcians already benefited from the gift and inheritance tax rebate in kinship groups I and II, which include children under 21 years of age, those over 21 years of age, spouses, grandparents and parents. It meant a saving for all of them of 330 million euros.

The Minister of Economy, Luis Alberto Marín, explained that the average inheritance and gift was less than 100,000 euros, which shows that this tax cut benefits the middle classes. In fact, he adds, only 3% of the inheritances that were processed last year exceeded 300,000 euros. And more than 90% of donations did not reach 100,000 euros.

For the Autonomous Community, this tax rebate will mean a loss of 900,000 euros, which will be compensated, according to the Regional Minister of Economy, with the increase in property tax because Murcians will have more budget to spend on consumption.

 

 

 

 

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