Inheritance tax. The useless time-lag may be fatal for the Italian Revenue Agency

In the context of an inheritance, the heirs are obliged to submit the declaration of succession within 12 months of de cuius death.

The Italian Revenue Agency calculates, on the basis of the declared assets, the inheritance tax that is applied with different rates in relation to the degree of relationship with the deceased.

However, there are specific forfeitures and limitation periods to be respected by the Revenue Agency. The notification of the inheritance tax must be made by the Revenue Agency within 3 years from the date of submission of the declaration of succession under penalty of forfeiture.

Therefore, if the Italian Revenue agency does not notify within the three years, any tax request is precluded.

If the Agency notifies within three years from the date of notification, the 10-year limitation period, within which the Financial Administration must notify the folder of the payment schedule, will begin.

Therefore, if the Agency does not comply with the forfeiture or limitation periods that have just been examined, the right to the charge is extinguished and we can imagine that the heirs will not be very regretted for this.

Milano, January 21st 2021.

Avv. Giovanni Babino