Does anyone know if a inherited property is subject to the L'IVA tax (Italy)?
- carlo.milanesiLv 51 decade agoFavorite Answer
The tax for inheritance in Italy is not IVA, that is the tax for the purchase of goods or services, but the "imposta di successione" (="inheritance tax").
Since October 3rd 2006, the law has changed, and it is somewhat complex
There is an exemption for up to € 1 million, for spouse and descendants, and an exemption of up to € 100 thousand for brothers and sisters. No exemption for others.
The tax is applied to the fraction received that exceed the exemption.
The rates are:
* 4% for spouse, ascendants and descendants.
* 6% for other parents up to 4 degrees of separation.
* 8% for any others, even if living together.
There are the following exceptions, though.
Family business are exempt, as long as you proceed the business for at least 5 years.
For the house where you have official residence you pay only € 336.
For other buildings the tax rate is only 3%.
Life insurances are exempt.
- MaxLv 51 decade ago
No there is no inheritance tax in Italy (under a million), however if your from for example the US or UK then you will have to pay inheritance tax through them.
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