Inheritance tax reform almost triples revenue

Inflation and economic recovery influence the rise in tax collection. / cober

Until September, 45.5 million were deposited compared to 16.1 million in 2020, the year in which the 99.9% bonus of the general quota was eliminated

In the
first nine months of this yearthe
autonomous community raised more than
45.5 million for Inheritance and Gift Taxa figure that
almost triples the amount entered in 2020when the reform of this tax figure took place and the bonus was limited.

As it collects the
Canarian Tax Agency In its report for the month of September, this tax presents a
increase of accumulated collection in the first three quarters of 2022 of the
36,6% compared to the same period of 2021 (33.3 million).

This figure represents an increase of the
181.6% over the year of 2020 (16.1 million) and the
101.3% compared to 2019, year in which 22.6 million were raised. Although in this last year the reform was not yet in force, the figure was 6.5 million more than that collected the following year.

Modification

In the
Budget Law for 2020 with
removed the 99.9% bonus of the share of
Inheritance and Gift Tax with a general character that had been approved in 2008.

Thus was established a
new bonus depending on the
degree of kinship and amount of the quota, which was limited to 300,000 euros in general. For the challenge of the cases, 90% of the fee is discounted between 300,000 and 350,000 euros; 10% less for each increase of 50,000 euros and no bonus is applied if the inheritance or donation exceeds 1.2 million euros.

Regarding the r
general collection of all the taxes in the autonomous community, as of September 31, a
increase from
collection of 43.8% with respect to the same month of the previous fiscal year and of the
20.9% compared to September 2019since this year they have entered
2,289 million compared to 1,892 three years ago (almost 400 million more).

On the income of 2020, the increase is estimated at 50% in the first nine months of the year.

According to the analysis of the
Canarian Tax Agencyrevenue reflects a
revival of economic activity after the crisis caused by the pandemic and a
increased voluntary compliance of the tax obligations by the taxpayers, but they are mainly due to the
high inflation rates.