Treasury Archives - Page 2 of 2

If the question is how much money you can donate to a child without declaring it to the Treasury, the law makes it clear: none

July 21, 2025 by usatoday24

An increasingly widespread trend among millionaires is the Do not leave inheritance To your children. Bill Gates either Warren Buffett There are good examples of this new trend that seeks to convey the heritage of parents to children in alternative ways. However, it is not necessary to go to fortunes so bulky to meet cases of parents who want to convey part of their heritage to their children when they are still young. Patrimonial donations and movable property. According to him Article 618 of the Civil Code“Donation is an act of liberality by which a person has one thing for free in favor of another, that accepts it.” Thus, as defined by the regulations on the Inheritance and Donations Tax, Donating money, goods or any other form of patrimony to children will be considered as a donation by the Tax Agency. That implies that the donation must meet a series of characteristics and pay similar taxes to those that would be paid in case of inheritance without any limit value. Namely: Plusvalía tax, IRPF and Inheritance Tax and Donations. When donating money seems simpler, but Hacienda Vigila. If, as in most cases, the donation consists of an amount of money not very high, temptation is simply giving it to it. But how much money can you give a child without declaring it as a donation? The law does not establish any type of limit that forces donations to declare, so, technically, it would be donation to even give it a euro. However, such and as indicated From lawyers and inheritances, it is not common for the Treasury to pursue the small deliveries of money or gifts of little value. Nevertheless… Finance can request bank information by detecting certain movements due to the regulations of Prevention of capital laundering and terrorism financingso keep it in mind: Income of more than 3,000 euros in cash to review that its origin is justified profits. Income in 500 euros tickets. They are the most monitored tickets by the Treasury because they are used for criminal activities. Entering a large amount of cash in these tickets will sow many suspicions. Recurring income. The entry of a fixed, periodic amount and from the same origin, indicate some type of commercial transaction and the Treasury will show interest in their nature. The small amounts sent to the same account in a short period of time have the same effect Transfers Entities notify the credits of more than 6,000 euros, and transactions of 10,000 euros or more. Whether they are bank transfers and cash movements. How do they pay children’s money to children? Donations, like inheritances, are taxed by the Donation and Succession Tax. Each autonomous community manages this tax under its criteria, so taxation will depend on the Autonomous Community in which the donor has resided in the last five years. Madrid, Basque Country, Murcia, Castilla-La Mancha, Asturias, Balearic Islands, Canary Islands, Galicia, Extremadura, La Rioja and Navarra are exempt from this tax or bonus it to 99.9% for spouses, parents and children. Andalusia bonuses 99% and other communities apply exemptions of up to 400,000 euros. If the donation exceeds that limit, it must be taxed by it. It is not a donation, but I “preside”. If what is intended with donation is to help financially in a complicated stage, there is an alternative to donation: formalize a loan without interest. This assumption is not subject to taxes or expenses and it is only necessary to formalize a private loan contract and the donor will have to submit the settlement of the property transmissions tax at zero cost. However, in that document the deadlines and the way in which the money will be returned, which can be extended both in time as desired, will be specified, which makes it especially interesting for the donation of large sums of money. What if the donation is not declared? If you choose not to declare the donation and hacienda, it detects that money has been received without justifying its origin, it will be interpreted as an unjustified assets. In that case, such and as indicated the OCU, a Taxation of the IRPF to the marginal type that can reach up to 56% of the donated amount, plus the corresponding sanction. In Xataka | Why Millionaires like Zuckerberg and Gates decide not to leave their children with their children? Image | Unspash (Alexander Gray) *An earlier version of this article was published in July 2024

If the question is whether to add a child as a co -owner in a bank account is donation, the Treasury has given the clear answer: no

July 7, 2025 by usatoday24

The donation between parents and children is as thin as the edge of a razor in which any movement of funds is susceptible to being interpreted as a donation and, therefore, be subject to the payment of a donation tax. One of the most common cases is that of elderly parents that include their children as co -students in a bank account, a movement that could be interpreted by the Treasury as a Donation covert to children. A recent one Binding consultation The General Directorate of Taxes clarifies this doubt officially and indicates that, in these cases, there is no effective donation. The greatest fears. The situation is quite common, especially among older people and their children. A parent has a bank account and include one or more of his children as holders of that account To facilitate management of their finances. Before the resolution of the General Directorate of Taxes of April 8, 2025, the Treasury technicians could interpret that both holders became the owners of 50% of the deposited cash. Therefore, that made the new holder obtained a patrimonial increase and, since it came from its parent, it could be interpreted as not declared donation and the Treasury could claim the payment of the donation tax. The new doctrine of the Treasury. The new resolution of the General Directorate of Taxes, an organ dependent on the Ministry of Finance, establishes a different criteria for those cases. Based on different jurisprudence of the Supreme Court, it establishes that, the fact that a person is co -owned by a bank account does not imply that the capital to which he has access is his property, simply has permission to Have money and operate with him. “Cotitularity simply implies the availability of funds by any of the holders, without determining the existence of a condominium, and less in equal parts, on this balance,” abounds the new resolution. In addition, and what is more important, taxes does not automatically assume that 50% of the deposited funds are the holders, but that each holder owns the percentage that has contributed, which does not imply an automatic enrichment of the other cotular. Being alive is not the same as being dead. Taxes recognizes co -school as an “agreement with the financial entity” that does not affect the property of cash, which allows the free availability of the money from that account according to the limits of that financial agreement (indistinct use or signing the holders). That is, in the face of the bank, both holders can use the deposit without taking into account what percentage each party has contributed. However, this unlimited availability only computes while both parties are alive. When one of the co -students dies, the mechanisms applicable to the Precept of article 1.138 of the Civil Code in terms of joint obligations, so “the bank’s credit should be presumed to be divided into as many parts as the debtors were, so that at the death of a co -owner, both owned by half of the sum deposited in the bank,” says the resolution. In this way, and if no documents are demonstrated that proves a higher percentage of the surviving holder, 50% of the deposit becomes part of the inheritance and its property goes to be of his heirs. It is not donation, but with nuances. In its conclusions, Taxes ensures that as a general rule “does not necessarily imply the existence of donation, if it is not accompanied by the requirements set forth.” This implies that by adding cotitular to an existing account, the requirements of the donation act that are specified in the Article 618 of the Civil Code: “Donation is an act of liberality by which a person has one thing for free in favor of another, that accepts it.” That is, neither the holder expresses a will to assign, nor the co -one explicitly accepts it. However, as they point out In the newspaper Segrethat “necessarily” leaves the door open to the fact that it can be considered donation if it can be demonstrated that the cotular has not used the funds For your personal benefit with express consent of the holder, since that would express a will to assign a good and the acceptance of the same. Conditions that define a donation. In Xataka | Hacienda is watching covert donations: 100,000 euros for selling a floor below the market price Image | Pexels (Kaboomps.com)

A hole of 700 million euros with the Treasury

March 14, 2025 by usatoday24

The many joys that RTVE is receiving In terms of audience They have a reverse in the form of Continuous conflicts with the Treasury. And it seems that we have a new drama in perspective: there is a mismatch in VAT contributed by the entity that could cause, According to the worldan “economic breakdown” of up to 739 million euros. Millions in losses. It is being a complicated year for RTVE in economic matters. In January of this year, President José Pablo López appeared for the first time before the Parliamentary Control Commission and recognized losses of 30 million in the budgetary exercises of 2023 and 2024, which would have to be covered with the reserve funds destined for this purpose by the SEPI. However, its management has been valued very positively: in May 2024 its predecessor in office, Cascajosa Concepción, already warned of the red numbers of RTVE’s accounts, which some media like the world They encrypted in those 30 million that have not increased during López’s management. More tensions. However, the conflict with the Treasury due to VAT is somewhat greater. “A disparity of criteria is maintained in relation to the supported VAT that must be considered deductible” affirms the memory of accounts, and that refers to a conflict that dates back to 2018, coinciding with the arrival of the PSOE to the Government YLA controversial entry into the presidency from RTVE by Rosa María Mateo. It was then that the Treasury initiated an inspection against several public televisions when they considered that they had to pay VAT for the subsidies they received TVE believes he doesn’t have to pay. Since then, RTVE considers that it is not obliged to pay the VAT that is claimed, relying on a judgment of the European Court of Justice around a case in Bulgaria that supports the exemption of VAT. This same criteria was applied in Spain in 2024 in the case of the Television of Castilla-La Mancha. But RTVE’s problems with VAT do not end there: not only is the problem of how this tax pays, but how it deduces it. VAT deductions. There are three open procedures with TVE on this last topic, and understand three periods: From January 2015 to October 2017 November 2017 to December 2021 From January 2022 to December 2022 TVE’s forecasts are always optimistic, and believes that the Treasury must reintegrate money into the three processes: 255 million, 151.95 million and 42 million, respectively. There are precedents: in June 2024, the National Court sentenced that the Treasury had to return 140 million euros to RTVE, relieveing in this way The complicated RTVE accounts. Changes, changes. All these conflicts coincide over time with a very marked tone change in the chain: José Pablo López has appointed as TVE number 2 to Sergio Calderónwhich is undertaking a renewal of the contents that It is not going to end in Broncano (An acquisition of the previous directive), but already plans to attack the afternoons of the chain, giving it somewhat more modern airs. All if the budgets, immovable since 2009they allow it. Header | RTVE In Xataka | The controversy between Pablo Motos and David Broncano will not end soon: both of them are working

Senate confirms Scott Besent as Treasury Secretary

January 28, 2025 by usatoday24

The US Senate confirmed on Monday to the tycoon Scott Besent to lead the Treasury Departmenteither. It is about first member of the openly gay cabinet confirmed by the Senate of a Republican Administration. In a vote of 68 to 29, the Senate confirmed to Besent, while the Senate Republicans work to quickly install those chosen by President Trump for the main positions of the administration. Besent, 62, is the founder of the Key Square Group Coverage Fund, based in Connecticut. The Secretary of the incoming Treasury appeared before the Senate Finance Committee earlier this month, which approved his bipartisan nomination. The now Treasury Secretary appeared before the Senate Finance Committee earlier this month, which approved Besent’s nomination in a bipartisan way last week. “Mr. Bessent has decades of academic, professional and leadership experience relevant to this position, as well as the seriousness, behavior and character necessary to be an effective secretary,” said Senator Mike Crapo, president of the Finance Committee, before of the vote to approve Besent’s nomination outside the committee. “There is no doubt that Mr. Besent is an excellent choice for Treasury Secretary.” In your audience in the SenateBesent said that one of his goals will be to reduce inflation and impose more sanctions on Russia. In this regard, he affirmed that he hopes that inflation will approach the goal marked by the Federal Reserve (FED) to reduce the increase in prices to 2 % based on the annual index of personal consumption expenses. Besent was an important donor to the Trump campaign: according to Forbes, he delivered around $ 3 million to the then former president and other republican causes in this electoral cycle. The billionaire, exejecutive of Soros Fund Management, provided economic advice to the Trump campaign and has been a firm supporter of Trump’s policies in recent years, from tariffs to expense cuts. Among his priorities, Besent said that the extension of Trump’s tax cuts, Some of which will expire at the end of the year, is the “most important economic problem of the moment.” If tax cuts are not extended, Besent warned, the country will face an “economic calamity.” Since Trump assumed the White House last week, the Senate has confirmed some of his nominees for the administration, such as Secretary of State, Marco Rubio; The director of the CIA, John Ratcliffe, the Secretary of Defense, Pete Hegseth, and the Secretary of National Security, Kristi Noem. Continue reading:· Yellen warns that the federal government approaches the debt roof limit· Biden signs bill to raise debt roof and moves the country away from breach· Biden highlights bipartisanship in your speech on the debt roof agreement (Tagstotranslate) Donald Trump

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