{"id":156959,"date":"2026-07-20T14:55:40","date_gmt":"2026-07-20T12:55:40","guid":{"rendered":"https:\/\/mallorcaglobalmag.es\/reforma-fiscal-balears-ahorro-ciudadania1444-millones-tres-anos\/"},"modified":"2026-07-22T11:54:34","modified_gmt":"2026-07-22T09:54:34","slug":"reforma-fiscal-balears-ahorro-ciudadania1444-millones-tres-anos","status":"publish","type":"post","link":"https:\/\/mallorcaglobalmag.es\/en\/reforma-fiscal-balears-ahorro-ciudadania1444-millones-tres-anos\/","title":{"rendered":"Balearic Islands tax reform saves \u20ac1.44 billion in three years"},"content":{"rendered":"

The Balearic Islands\u2019 tax reform<\/strong> has saved taxpayers \u20ac1.44 billion<\/strong> since it was introduced three years ago<\/strong>. Most of this amount comes from inheritance tax relief<\/strong>, although reductions for first-home purchases<\/strong> and regional income tax deductions<\/strong> have also benefited thousands of residents<\/strong>.<\/p>\n

\"Balearic

Antoni Costa, First Deputy President and Minister for Economy, Finance and Innovation. Photo: CAIB.<\/p><\/div>\n

The Balearic Islands\u2019 tax reform was one of the first measures approved by the Government headed by Marga Prohens<\/strong> of the People\u2019s Party at the start of the parliamentary term. “This package of measures has been introduced without compromising<\/strong> the strengthening of essential public services<\/strong>. On the contrary, during this parliamentary term the Government has increased resources to unprecedented levels<\/strong> for healthcare, education, social services, housing and sustainability<\/strong>, while also beginning a process of restoring the public finances<\/strong>,” says First Deputy President and Minister for Economy, Finance and Innovation, Antoni Costa<\/strong>.<\/p>\n

Balearic Islands tax reform removes more than \u20ac1.09 billion in inheritance tax<\/h3>\n

The greatest financial impact of the reform relates to inheritance tax. Since the relief came into force, 38,925 families<\/strong> have benefited from the measure, saving a total of \u20ac1.09 billion<\/strong>.<\/p>\n

Of this total, 34,797 taxpayers<\/strong> in groups I and II saved \u20ac998.9 million<\/strong>, while a further 4,128 taxpayers<\/strong> in group III saved \u20ac100.4 million<\/strong> thanks to the relief approved by the Government.<\/p>\n

“As long as this Government remains in office, people will never again have to pay tax on an inheritance<\/strong>, a tax that penalises the effort and work of an entire lifetime<\/strong>,” Costa says.<\/p>\n

More than 10,800 people benefit from first-home tax relief<\/h3>\n

Meanwhile, the measures applied to property transfer tax have enabled 10,801 people<\/strong> to make combined savings of \u20ac116.46 million<\/strong>.<\/p>\n

Among them, 5,088 buyers aged over 36<\/strong> purchased their first home at a reduced rate of 4%, while 3,543 people under 36<\/strong>, large families, single-parent families and households caring for people with disabilities received a 50% reduction.<\/p>\n

In addition, 2,170 people under 30 and people with disabilities<\/strong> were fully exempt from the tax thanks to a 100% reduction. The Government has recently raised the maximum property value eligible for these tax benefits.<\/p>\n

Income tax deductions reach more than 111,000 taxpayers<\/h3>\n

The reform has also strengthened regional income tax deductions in areas including housing, education, work-life balance and social services. During the latest income tax campaign, covering the 2024 tax year, 111,418 taxpayers<\/strong> claimed at least one of these deductions, 72.9% more<\/strong> than in the 2022 campaign.<\/p>\n

The financial impact of these deductions amounted to \u20ac39.18 million<\/strong>, with an average saving of \u20ac352<\/strong> per taxpayer.<\/p>\n

Public debt falls as the Balearic Islands record a third consecutive surplus<\/h3>\n

The Government has also highlighted the performance of the public finances during the parliamentary term. The autonomous community\u2019s debt has fallen by \u20ac510 million<\/strong>, while the debt-to-GDP ratio stood at 17.7%<\/strong> at the end of 2025, its lowest level since 2010.<\/p>\n

The Balearic Islands also closed 2025 with a surplus of \u20ac53 million<\/strong>, equivalent to 0.1% of GDP<\/strong>, marking three consecutive years of positive public accounts<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Balearic Islands\u2019 tax reform has saved taxpayers \u20ac1.44 billion […]<\/a><\/p>\n","protected":false},"author":4,"featured_media":156904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1515],"tags":[],"class_list":["post-156959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-and-tourism"],"yoast_head":"\nBalearic Islands tax reform saves \u20ac1.44 billion in three years - Mallorca Global Mag<\/title>\n<meta name=\"description\" content=\"More than 38,900 families have benefited from inheritance tax relief, while 10,800 people have received tax support to buy their first home.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mallorcaglobalmag.es\/en\/reforma-fiscal-balears-ahorro-ciudadania1444-millones-tres-anos\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Balearic Islands tax reform saves \u20ac1.44 billion in three years - 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