Overview
- The new inheritance and donation tax provisions took effect July 1 after approval by the Madrid Assembly and publication in the official gazette
- Group III kinship bonus for siblings, uncles, nephews and in-laws was increased from 25% to 50%
- Sporadic donations under €1,000 now receive 100% relief and no longer require self-assessment
- The requirement for notarized public documents on gifts up to €10,000 has been removed to streamline administrative procedures
- This measure marks the 32nd tax cut under President Isabel Díaz Ayuso, upholds Madrid’s status as Spain’s lowest-tax region and is projected to cost €140 million while aiding about 14,000 residents annually