Find out from what amount the Tax Agency does not usually investigate these economic transfers
Although donations must be declared to the Treasury, it is also true that the Tax Agency pays more attention to large amounts of money and does not usually investigate smaller amounts. Even so, in the legal framework it is mandatory to pay these self-assessments to the Treasury.
Donations consist of transferring money, property or real estate and are carried out when the donor is alive. This is the main difference with respect to the inheritance that is transferred when the person dies. In addition, while a donation is a completely voluntary economic transfer with a positive result, an inheritance can also involve the assignment of debts that the forced heirs will have to face even if the deceased does not leave it in writing in the will.
This financial year should not be included in the Income Statement. To be accountable to the Treasury when a donation is received, the so-called Inheritance and Gift Tax must be paid. Although there are already autonomous communities such as the Region of Murcia that have abolished this tax for the ‘kinship group III’, which includes brothers, uncles, nephews and ascendants and descendants by affinity (in-laws, daughters-in-law, sons-in-law, stepchildren or stepparents). The Tax Agency indicates that Spaniards are “obliged to present a declaration or self-assessment for this tax for the goods and rights that they acquire by donation or any other legal transaction free of charge and inter vivos.” A presentation that must be made 30 business days from the day following the execution of the act or contract.
Although it is a mandatory procedure, amounts less than 3,000 euros are not usually monitored by the Tax Agency since banking entities are not required to report movements less than this amount. Therefore, the safest thing is that if you receive a donation of less than 3,000 euros, the Treasury will not stop to investigate it.
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