If you inherit a property, before submitting the inheritance declaration, taxes must be calculated and paid
- mortgage
- cadastral
- of stamp duty
- the mortgage tax and special taxes (for example, for mortgage formalities).
Payment of the sums due must be made by debiting the current account opened at one of the banks affiliated with the Revenue Agency or Poste Italiane S.p.a in the name of the declarant or of the person in charge of electronic transmission of the declaration. For this reason, when completing the declaration, the IBAN code of the account to which the sums due are to be debited and the tax code of the current account holder must be indicated.
Inheritance tax: rates and exemptions
The rates and exemptions for inheritance and gift tax are established by art. 2, paragraph 48, of the Legislative Decree. n. 262 of 2006.
Specifically:
- 4%, for transfers made in favor of the spouse or relatives in a direct line (ascending and descending) to be applied on the total net value exceeding, for each beneficiary, the quota of 1 million euros
- 6%, for transfers in favor of brothers or sisters to be applied on the total net value exceeding, for each beneficiary, 100,000 euros
- 6%, for transfers in favor of other relatives up to the fourth degree, collateral relatives up to the third degree, to be applied on the total net value transferred, without application of any deductible
- 8%, for transfers in favor of all other subjects to be applied on the total net value transferred, without application of any deductible.
For transfers made in favor of disabled persons, recognized as serious pursuant to law no. 104 of 1992, a further exemption of 1.5 million euros is foreseen (art. 2, paragraph 49-bis, Legislative Decree 262/2006).
How to pay inheritance tax
If the declaration is presented at the Revenue Agency office, the payment can be made at the bank, at the post office or at the collection agent also via form F24, indicating the relevant tax codes. If the payment is made by debiting the current account, it is necessary to fill in the appropriate form to be delivered to the office.
After receiving the succession declaration, the competent territorial office of the Revenue Agency sends the heir a liquidation notice with the indication of the inheritance tax.
Payment must be made via F24 within 60 days from the date on which the liquidation notice was served. Once this deadline has expired, in addition to the penalties, late payment interest also becomes applicable.
For amounts exceeding 1,000 euros it is possible to pay in installments using the following methods:
- at least 20% of the amount must be paid within 60 days of notification of the settlement notice
- the remaining part is paid in 8 quarterly installments (12 installments for amounts exceeding 20,000 euros), on which interest is due calculated from the first day following payment of the initial instalment. Installments must be paid by the last day of each quarter.
“Slight non-compliance” does not lead to the forfeiture of the installment plan, i.e.:
- the insufficient payment of the instalment, for a fraction not exceeding 3% and, in any case, 10,000 euros
- late payment of the sum equal to 20%, not exceeding 7 days.
The slight non-compliance is also applicable to the lump-sum payment.
