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V1710-20 ·1 June 2020 ·consulta-vinculante Medium impact
Tax

Life insurance payouts from collective policies taxed under Inheritance and Gifts Tax

A beneficiary asks whether a Swiss social security insurance payment after their brother's death is subject to income tax or Inheritance and Gifts Tax. The DGT states that a payment from a life insurance policy taken out by a company is subject to Inheritance and Gifts Tax.

In 6 key points

How it affects those involved

Payouts from collective life insurance policies following death are subject to Inheritance and Gifts Tax, not income tax.

Lifecycle

2020-06-01PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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