Italian Inheritance and Gift Tax
Italian Inheritance & Gift Tax: Key Rules (2025 Update) Tax Rates by Beneficiary Relationship Spouse and direct descendants (children, grandchildren): 4% with a €1 million exemption per beneficiary. Siblings: 6% with a €100,000 exemption. Other relatives up to the fourth degree: 6% with no exemption. Unrelated individuals: 8% with no exemption. See this article for […]
Do I Need a Will?
Wills in Italy Starting Point The first step toward answering this question is getting: your details – including your nationality, current place of residence, and expected place of residence when you pass; as accurate a listing as possible of all of your assets, the place in which they are located, the current value, the purchase […]
RW Foreign Asset Reporting Codes
The table below contains the codes to be shown in Section RW of the annual tax return allocating any foreign asset to an individual category. Italian Descriptor Code English Description Conti Correnti E Depositi Esteri 1 Foreign Current And Deposit Accounts Partecipazioni Al Capitale O Al Patrimonio Di SocietĂ Non Residenti 2 Shares In The […]
Italian Foreign Asset Reporting Obligations in Quadro RW and IVAFE for Foreign Pension Schemes
The Italian rules for the reporting of a foreign pension or retirement benefits schemes are vague and Italian centric. This leads, for many taxpayers to uncertain positions where they transfer residence to Italy benefitting from or participating in such schemes. The fundamental starting point is that, in the Italian context it is the Sate that […]
Italy – Withholding Taxes
Tax to be Withheld on Payments to Non-Residents Italy has an extensive series of rules requiring Italian tax resident businesses and professionals to make withholding of tax on certain payments of various types of income, both where the recipient is tax resident in Italy and non tax resident. Individuals acting in a private, non business, […]
Tax Updates
Italian 2026 Draft Finance Law A draft of the Italian 2026 Budget law has been published and a summary of the main terms published on Ministry of Finance web page: https://www.mef.gov.it/focus/Principali-misure-della-legge-di-bilancio-2025/ The main tax measures as described on the Ministry web site, are summarised below. The Draft Bill is now proceeding with the Parliamentary debate […]
Inheritance And Succession – Posts
Pensions – Posts
Italian Forced Heirship Rules
Italian Forced Heirship Rules (Successione Legittima) Italian forced heirship, governed by the Civil Code (Articles 536–564), restricts the freedom for an individual to decide where their assets should go on death. The rules work by reserving a portion (quota legittima) for “forced heirs” (the “legittimari” – spouse, children, or ascendants if there are no children). […]
UK Inheritance Tax Changes
New UK Domicile Rules The UK government is in the course of making some significant, and complex, reforms to the taxation of non UK domiciled individuals. The changes impact UK Inheritance tax liabilities for people living outside the UK . Under previous rules if you had a UK domicile (and had not lost it) there […]