Important news in Italy regarding taxes on inherited assets.
The Italian Law (DL n.139 of 18 September 2024) introduced tax benefit for particular situations regarding the inheritance of shares or participation quotas.
In fact, if the heir of the shares or participation quotas is the spouse or children or other descendants of the deceased, income taxes do not apply provided that the heir does not sell or transfer the shares for at least 5 years from the opening of the succession.
This tax benefit is in addition to the tax breaks already provided for in the matter of inheritance tax for the spouse or descendants of the deceased.
Obviously, specific declarations are required for the new tax breaks and therefore the assistance of a professional is advisable.
Milan, 30 October 2024
Avv. Giovanni Babino
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