Reductions on the inheritance tax in Spain and specifically in Andalusia for acquisition of a company, business or shares in Spanish companies, as well as Reduction for acquisition of habitual residence.
In our previous articles (SEE… ), we have already informed you about the general reductions and bonuses on these reductions as well as additional reductions to be taken into account for the calculation of the inheritance and gift tax in Spain and specifically in Andalusia.
Reduction for acquisition of a single-shareholder company, professional businesses, or shares in a company.
Reduction of 95% for acquisition mortis causa of a single-shareholder company, professional businesses, or shares in exempt companies, by spouses, descendants or adopted children of the deceased (in case there are none, by ascendants, adopters and relatives up to the third degree) provided that they stay the owner for a period of ten years after the death of the testator.
With regard to autonomic bonuses, the aforesaid period of 10 years is reduced to 5 years, and the reduction is lowered to 99%, leaving 1% of taxations for the mere statistic purposes in case: