“Comunidades Autónomas” have their own inheritance and gift tax regulations as a result of the Spanish State ceding the tax revenue of inheritance and gift tax to the “Comunidades Autónomas”, along with some regulatory autonomy to adapt tax to the particular circumstances of each.

This means that most of them have ruled new (and huge) benefits compared to those established by the Spanish State.

While the tax scheme and regime is the same in all parts of Spain, the “Comunidades Autónomas” took advantage of their new powers to fix higher thresholds, or different rates or direct reductions on the amount to be paid (and sometimes all of these) to benefit close relatives of the deceased or disabled people. There are also benefits that help promote local business, farming, etc. as well as in the acquisition of cultural assets of each Comunidad Autónoma.

However, the regulations change quite frequently so it is necessary to check the regulation in force at the time the tax is due.

Cantabria has ruled the following benefits:

There is a modification of the tax to pay on gifts – a deduction of 100% for ascendants, descendants and spouse or legally registered partners.

Reductions for gifts of an individual business, professional enterprise or shares in a company for family members

There is a reduction of 99% for gifts of an individual business, professional enterprise, or shares in a company, including farming and fishing businesses, to close relatives up to cousins (fourth grade), or if there are no close relatives to unrelated recipients, on condition that the donor is 65 or older, or is permanently or severely disabled.
The recipient must keep possession of the gift without doing anything to substantially reduce its value for a period of 5 years.
If the conditions are breached the recipient must pay the tax now owed plus interest.

Reductions for gifts of assets of cultural heritage

For gifts made to a spouse or descendants, including adopted descendants, a reduction of 95% may be applied of the value of assets of national cultural interest, also for registered assets of historical or cultural heritage from autonomous communities.

Reductions for contributions to “Patrimonios Protegidos” for disabled people

For contributions to disabled people there is a reduction of 100% for amounts which exceed the personal income tax limit for disabled people. There is a limit of 100,000€ on the value of the gift.

NB. Registered unmarried partners are considered as equivalent to married partners for these reductions if they are registered in the Register of unmarried partners of Cantabria, or other Comunidades Autonomas of Spain, of EU countries or of third countries.

• The question now is when can these benefits be taken advantage of?
  When the gift is of immovable assets located in Cantabria or the gift is of other kinds of assets when the beneficiary is a resident in Cantabria.

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