The feared increases in the Inheritance Tax

Among the possible revisions in tax matters, the increase of the inheritance tax.

The legislation on succession in Italy has already undergone the changes imposed by EU Regulation No. 650 of 4 July 2012, in force in Italy since 17 August 2015.

From another perspective, Law 23/2014 introduced a land registry reform; starting from 2018, land registry incomes will be increased, with the inevitable increase in mortgage and land registry taxes, and the tax increases will also be extended to inheritances and donations.

In this worrying scenario, it is foreseeable that a further worsening element will soon be introduced, the modification of the inheritance tax, with a reduction of the exemptions and an increase in the rates.

It is therefore appropriate to begin succession planning, in which the role of the TRUST assumes fundamental importance.

Milan, 02 March 2016.

Attorney Giovanni Babino