The Government of Aragón has announced new legislation aimed at facilitating the continuity of family businesses through tax incentives in asset transmission processes. The regulation seeks to balance the protection of the productive fabric with tax justice.
Objectives of the law for family businesses in Aragón
The new legal framework has as its main objective to create a specific tax regime for intergenerational transfers of family businesses. This approach is crucial as family businesses represent 85% of the business fabric in Aragón, making their sustainability essential for the region’s economy.
Tax benefits for asset transmission
Among the advantages anticipated by the law are reductions in the Tax on Asset Transfers to facilitate generational handover operations. Additionally, mechanisms will be implemented to avoid asset fragmentation in the context of business inheritances, which could jeopardize the continuity of these businesses.
Presentation of the law at a prominent event
The initiative was presented by President Jorge Azcón during the presentation of the 2024 Aragonese Family Business Awards, highlighting its importance for territorial competitiveness. This regulation not only reflects a local commitment but also aligns with various European strategies designed to support small and medium enterprises, vital for the sustainable development of Aragón.
