Residents might be about to lose huge inheritance tax reduction

[aspasia]

The Canarian Government came into line a little time ago with other parts of Spain, and granted tax residents a 99.9% reduction in the tax rate for inheritances and gifts. Now, it looks as if residents might lose that advantage as a result of the economic crisis. The Canarian Government is currently discussing tax rises for the region and this is one being considered. There should be a decision next week about whether, and if so in what form, there will be a change. JA