Donations or cash prizes between couples, children and grandparents that until now were completely exempt from stamp duty at 10% will now be taxed from 5,000 euros, according to a proposal to amend the PS to the State Budget for 2024 that aims to combat fraud and tax evasion and reported by ECO.

“Donations between spouses or civil partners, descendants and ascendants, up to the amount of 5,000 euros” are exempt from tax, according to the initiative of the socialists, whereas, at the moment, there is no limit for this donation to be exempt.

In the explanatory note attached to the initiative, PS deputies clarify that “there is currently a limit of 5,000 euros for the subjection of donations of goods or values according to social uses for the purpose of simplifying the control of combating fraud and evasion”. “With the same objective, and in the case of operations that are exempt from stamp duty, it makes sense to adopt a non-subject to donations when they do not exceed 5,000 euros”, according to the text of the proposal.

This limitation on the exemption means that wedding gifts from parents to children or from grandparents to grandchildren or financial aid between family members, in a direct line of kinship, above 5,000 euros are subject to tax.

For example, a wedding gift offered by parents, worth 5,500 euros, will have to pay a 10% stamp duty to the State, that is, 550 euros.