New Tax Benefits in the Valencian Community for Inheritance and Donations

The recent approval of Law 6/2023 in the Valencia Region brings excellent news for citizens. This legislation introduces a 99% tax relief for inheritance by relatives in groups I and II, which means a significant relief in the tax burden for direct beneficiaries such as spouses, parents and children.

In addition to this generous relief, a reduction in the taxable base for Inheritance and Donation Tax has been incorporated. Amongst the significant reductions are benefits for acquisitions by children, adopted children, grandchildren and grandparents, providing tax relief commensurate with family circumstances.

These measures, which apply directly to the tax base, aim to facilitate the transfer of wealth between generations and promote fairness in the Valencian tax system. Overall, they represent a positive step towards a fairer and more taxpayer-friendly tax policy in the region.

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