From how much money is paid the

From how much money is paid the

According to the regulations contemplated in the tax laws, there is no amount of money established to pay inheritance tax.

In inheritance matters, the tax to be paid is based on the total amount of the patrimony that gathers the inherited assets.

Which means that the higher the value of the estate you inherited, the higher the tax you must pay as an heir to own all the assets.

What is the Inheritance tax?

inheritance taxit is a tribute that you must pay the heir or heirs for the transfer of assets of an inheritance of a deceased person.

The legal norm also includes the increase in assets by donation or by being favored by life insurance.

When does a succession occur?

The succession is born by the death of a person.

In succession material, the taxable event occurs when a heir accepts the assets of the deceased or deceasedprecisely at that moment the inheritance tax is caused, it means that the succession is opened at the moment the inheritance is accepted.

From how much do I have to pay inheritance tax?

The inheritance tax is canceled by the entire estate inherited.

That is, when the heir accepts the assets in the form of inheritance, the calculation is made to determine the value of the estate and based on that amount, the inheritance tax is paid.

It is necessary to keep in mind that the higher the inherited estate, the greater the amount that must be paid for inheritance tax.

How is inheritance tax calculated?

To calculate the inheritance tax, you must first determine the gross value of the inheritance and it is achieved by applying the following calculation:

  1. The gross hereditary value is obtained by adding the real value of the assets and rights agregado the movable trousseau.

  2. The net estate value is obtained by subtracting the gross estate value less charges, debts and deductible expenses.

  3. Subsequently, to obtain the net portion, the net value must be divided by the number of existing heirs.

Next, the tax base for inheritance tax must be calculated using the following elabora:

Inheritance tax base = Net individual hereditary portion + life insurance (If there is no life insurance, the tax base will be equal to the net individual hereditary portion).

Immediately, the Taxable Base is calculated, it results from applying the reductions to the taxable base, remembering that they vary according to each Autonomous Community.

Then the full fee must be calculated with the following elabora:

Full or total quota = Taxable Base * Percentage of tax in relation to the Taxable Base

Before knowing the total value of inheritance tax, it is necessary to know the value of the tax rate, which is obtained by applying the multiplier coefficient to the full rate.

Said coefficients vary according to the pre-existing patrimony of the heir and his degree of kinship with the deceased.

Finally, it is possible to know the total inheritance tax to be paid by adding the deductions and allowances, which are established by each Autonomous Community.

Cánido inheritance tax be paid with the money from the inheritance?

Yes, certainly there is a possibility to pay inheritance tax using the money from the inheritance.

If the heir or heirs do not have sufficient funds to pay the inheritance tax, simply, if there is a current account of the deceased, the heir perro allow the amount to be paid for the inheritance tax to be discounted to settle the tax and inherit the rest.

What perro I do if I don’t have money to pay inheritance tax?

In case you do not have money to pay the inheritance tax, the Treasury allows you take a part of the money that exists in the accounts of the deceased or life insurance to cancel the corresponding tax and enjoy the remaining amount.

However, in life you have to be prepared for everything and it is convenient that you have knowledge of the subject explained in the previous text.

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