Madrid's community: Minimum amounts for descendants
Regulations: Art. 2 of the Consolidated Text of the legal provisions of the Community of Madrid regarding taxes transferred by the State, approved by Legislative Decree 1/2010, of October 21.
The following minimum amounts are established for descendants that taxpayers residing in the territory of the Community of Madrid must apply to calculate the regional tax:
2,400 euros annually for the first descendant who generates the right to apply the minimum for descendants.
2,700 euros per year for the second.
4,400 euros per year for the third.
4,950 euros per year for the fourth and subsequent rooms.
When a descendant is under three years of age, the amount corresponding to the minimum for descendants, as indicated above, will be increased by 2,800 euros per year.
Note: The amounts of the minimum for descendants for the first and second child, as well as for descendants under three years of age, coincide with those established in article 58 of the Personal Income Tax Law , while those for the third and fourth son and following replace those established in the aforementioned article.