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Inheritance and gift tax, the government changes the rules. Here comes the pre-filled form

The novelties of the legislative decree approved by the Council of Ministers

8 April 2024Aggiornato il 9 aprile alle ore 13,10

25/09/2007 LA SEDE DELL'AGENZIA DELLE ENTRATE

3' min read

Novelties in sight for registration taxes, assignment taxes and stamp duties. The Council of Ministers gave the green light to a legislative decree on indirect taxes (with the exception of VAT), implementing the delegation of powers. Among the novelties is the launch of the pre-filled declaration of inheritance.

Leo: more legal certainty with rationalisation of successions

"We have approved the twelfth outline of the legislative decree implementing the delegation," said Deputy Minister of the Economy Maurizio Leo at a press conference at the end of the Council of Ministers. "The main features are simplification, legal certainty, and rationalisation," he explained, emphasising that "the most substantial interventions concern the disciplines of trusts, the transfer of businesses within the family, the declaration of inheritance, tax settlement, and the adjustment of the discipline of donations.

Successioni, donazioni, visure catastali: tutte le novità spiegate in 10 minuti

Towards the precompilation

In an attempt to simplify the tasks of heirs and the professionals who assist them, the decree lightens the content of the declaration of inheritance, but with the constraint that it must only be submitted electronically. The possibility of sending the declaration by registered post or by another means showing the date of dispatch will remain possible only for residents abroad.

The decree aims to eliminate requests for so much data. For example, cadastral extracts for real estate and the certificate of public registers indicating the identification details of ships and aircraft are eliminated.

The new rules for succession

With regard to inheritance, the draft decree defines the territoriality rules for transfers resulting from trusts and other destination restrictions. If the settlor is resident in Italy at the time of the separation of assets, the tax will be due in respect of all assets and rights transferred to the beneficiaries while. If, on the other hand, the settlor is not resident in Italy at the time of the separation of assets, the tax will be due only on the assets and rights transferred to the beneficiary present in the territory of the State.

In the case of testamentary trusts, the settlor may also pay the tax voluntarily and in advance, at the time of the transfer of assets or the opening of the succession. The tax will be settled and paid directly by the taxpayer, without waiting for the settlement and sending of the notice by the Inland Revenue Agency.

Self-assessment

The principle of self-assessment of inheritance tax is also established. In order to avoid that the taxpayer is required to pay the tax already at the time of submitting the declaration, and taking into account the operativeness of the offices in relation to the previous system, the payment of the self-assessed tax, in accordance with the procedures established by order of the Inland Revenue, must be made within ninety days of the deadline for submitting the declaration.

News on donation tax

As for the changes on the subject of donation, the draft decree states, the changes are mainly aimed at giving unity to the rule. The provision on the deduction of taxes paid abroad in connection with the same donation and in relation to existing assets is inserted, specifying that it operates up to the amount of the portion of gift tax proportional to the value of the assets themselves. On the other hand, the rules on donations remain substantially unchanged. It is provided that the assessment of indirect donations may be made only when the existence of such donations results from declarations made by the interested party within the scope of proceedings aimed at assessing taxes. The rate of eight per cent applies. In addition, the exclusion from taxation of gifts of use is also introduced.