ITALY

The fiscal regime applicable in Italy to a trust

The Italian fiscal authorities issued a ruling, dated 28 September 2004, concerning both the tax treatment of an immovable property contribution into an inter vivos trust (i.e. a ‘liberal’ trust) and the tax treatment of the trust as such.

Such ruling was requested by a taxpayer whose intention was to set up a trust having as a main asset an immovable property. The trustee essentially had to take care of this good, preserving it well and renting it to thirds. Further, the settlor was also the final beneficiary of this trust.

Want to read more?

This content requires a Croner-i Tax and Accounting subscription.

Existing subscriber? Log in

No subscription?

Contact us to discuss your requirements.