The inheritance tax rates are as follows:
If the beneficiary is a disabled person, with a severe disability according to law n. 104 of 1992, there is a higher threshold of 1.5 million euros, regardless of the degree of kinship.
When the deceased’s asset consists of immovable property, the inheritance tax payable is based on the cadastral value of the property, which is obtained by multiplying the property’s cadastral income by a coefficient that varies according to the category of the property (i.e. residential house, office, shop etc.). Please note that the cadastral value of an immovable property is not the same as its current market value.
In this case, in addition to the inheritance tax, beneficiaries are also liable to pay
However, law no. 342 of 2000 has extended the “first home” benefit to inheritances and donations, allowing heirs to benefit from it in the event of succession: the requirements are stringent and will be verified on a case-by-case basis. If this benefit is due, the cadastral tax becomes fixed at €200.00, and the same occurs for the mortgage tax at €200.00.
In addition to these taxes, other fixed taxes are due based on the number of properties, to obtain the transcription of the ownership’s transfer of the properties to the land registry.
This article was written by Atty Sara Bocci, Atty Caterina De Carolis and Barbara Burroni.
This article is posted by Mazzeschi Web Content Manager. Should you need any further information, please do not hesitate to contact us at info@mazzeschi.it. Follow us on social media @StudioMazzeschi to receive the latest updates.
Related posts:
