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Does anyone know if a inherited property is subject to the L'IVA tax (Italy)?

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  • 1 decade ago
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    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.

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  • Max
    Lv 5
    1 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.

    Go with God

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