Learn all about Italian inheritance tax and its impact on assets of deceased Italian residents
In its latest newsletter, MGI Worldwide member firm MGI Studio Pragma, based in Fano, Italy, offers comprehensive insights into Italian inheritance and gift tax, explaining the criteria for its application and scenarios in which it comes into play.
Italian inheritance and gift tax is applicable under specific conditions to property transfers resulting from death or donation, as well as the establishment of liens on certain assets.
Italian Inheritance and Gift Tax
This tax has a wide territorial reach, encompassing assets held by the deceased person (de cuius) regardless of their location if the de cuius was an Italian resident. This can result in instances of double taxation, which may be addressed by utilizing relevant Double Taxation Conventions where they are in place and applicable.