Privilege from Philip IV

Privilege from Philip IV granting Juan de Sandier, governor of Seville, 67,550 maravedis in annuities and taxes.

The tax privileges included financial benefits and fiscal exemptions granted by the monarchs. The first were based on royal revenues, and are beautifully crafted examples of privileges based on annuities, which were a special form of loan introduced in Castile by the Catholic Monarchs. They represented the beginnings of the Crown accepting individual loans and committing to pay an annual amount of the Crown’s revenue until the debt was repaid. Royal Treasury Council.