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V0322-24 5 March 2024 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ISD · legado de dinero

Calculation of cash legacies after deducting trustee taxes and accrual of late payment interest due to extensions

Consultants inquired how to quantify a cash legacy that must cover the taxes of the fiduciary heir and whether a tax extension triggers late payment interest. The DGT ruled that the legacy is calculated by subtracting the fiduciary's taxes (arising from the usufruct) from the total financial assets, and that any extension results in the accrual of late payment interest.

The question raised

Amount to be included in the monetary legacy.

The DGT's ruling

The monetary legacy is calculated by subtracting from the total amount in accounts and securities the taxes due to the fiduciary for receiving the usufruct of the inheritance. Regarding deadlines, an extension in the filing of the tax implies a deferral of payment, whereby late payment interest accrues from the end of the six-month period until the effective filing.

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