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In brief, Trusts & Trustees, Volume 31, Issue 3, April 2025, Pages 73–74, https://doi.org/10.1093/tandt/ttaf020
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ARTICLES
The new indirect taxation of trusts after the Italian Tax Reform: international and cross-border rules
Luigi Belluzzo
Trust indirect taxation is one of the most significant tax changes introduced in Italy by the Delegated Tax Reform Law No. 111/2023. Legislative Decree No. 139/2024 concerns inheritance, gifts, and other gratuitous acts, including trusts. The new rules apply to any public deeds executed, judicial deeds published or issued, and private deeds authenticated or submitted for registration on or after 1 January 2025, as well as to inheritances opened and gratuitous acts made from that date onward. The reform is warmly welcomed and provides additional possibilities for estate and succession planning, particularly considering the significant number of relocations and the growing trend of foreign investments in both pleasure assets and businesses in Italy. Introducing trusts within indirect tax legislation gives the taxpayer the option to pay at the time of disposition or at the time of attribution. Territoriality rules have been fine tuned.
