- A low level of tax rates (varying from 4% up to 8%), depending upon the kinship between deceased/donor and heir/donee
- Remarkable allowances (up to 1.5 million euro)
In addition to this, taking into account that approximately 50% of Italian household wealth is held in real estate, it is relevant to say that immovable property is evaluated on the base of its ‘cadastral’ value, which is sensibly lower than market value.
In light of the above, and taking also into account specific rules of exemptions, in most cases any tax is due, apart from the application of other, minor taxes due on the transfer of real estate (‘Mortgage Tax’ and ‘Cadastral Tax’).
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Succession is something you should take care of as soon as possible since there are substantial fiscal, legal and economic implications.
Our RSM tax experts support you in handling your succession planning and make certain that your requirements are fully met.
As part of the international RSM Private Client Services group, we network with RSM inheritance tax experts from many countries. Thus, we are able to provide our services to clients deeply involved in international situations, for whom different national tax regimes require an excellent exchange between the national tax advisors.
Dr. Giovanna Gargiulo