Laws Regarding Italian Succession AndInheritance:

The laws regarding inheritance fall under the Italian Civil Code or CodiceCivile. Under the Italian Succession Law or the Italian Inheritance Law, a deceased person’s estates (rights, obligations, assets) are transferred to his/her heirs. The CodiceCivilerecognises two types of succession:

•     The first type is known as SuccessioneTestamentariaor Testate Succession when succession is ruled by a will or testament of the deceased person.

•  The second type is known as SuccessioneLegittimaor Intestate Succession where succession is ruled by law in the absence of a will or testament.

If the circumstances dictate that there is a will but the will doesn’t cover the entirety of the estates, the succession is ruled partly based on the will and partly based on the Italian Succession law. The law also permits the next-of-kin to receive certain percentages under certain circumstances.

An heir needs to accept the inheritance. There can be two types of acceptance of inheritance according to the Italian Law or CodiceCivile:

• Express acceptance of inheritance, or the acceptance of inheritance which has been a submitted as a formal statement to a notary or a court’s registrar.

•      Tacit acceptance of inheritance, which occurs when the heir acts as the owner and the selling or donating the property without having made any formal statement.

The rights to accept the inheritance, tacitly or expressly expires after 10 years of the death of the person. In case the statement of acceptance has terms and conditions or if there is partial acceptance of inheritance, under Italian Succession Law, the inheritance is declared null. An acceptance of inheritance means that the heir/heirs have to pay taxes on the inheritance according to the law. Relinquishment of inheritance rights, however, is also permitted by the law.

Basic Information About Italian Fiscal Code

Laws and regulations of every country are different. Same is with Italy too. While residing in Italy, residents need to have the Italian fiscal code card which is officially known as Italy's CodiceFiscale. Do you know what is it all about?

It is a tax code card in Italy very similar to an SSN card in the United States or the NIN issued in the United Kingdom. This code card contains an alphanumeric code of 16 characters which serves to identify unambiguously residing individuals in Italy. This card doesn’t have to do anything with residency status of individuals. It is generated and provided by the Italian tax office and used for several other purposes like uniquely identifying individuals in the health system.

The Italian tax office, issues this unique number. Earlier this card was more simplified carrying the magnetic strip, tax code, surname, name, sex, place, and province of birth. Now, it is combined with Italian health insurance card for qualifying residents which shows an expiration date. 

First Introduction

This card was first introduced in 1973 to make the Tax Codes more efficient. To generate a Code Fiscale in Italy, the birthplace as existing at the time of birth is must to be entered. Then, the card is generated. There are various private services helping residents get the card if they are unable to visit the government office or access the online services.

Some Specific Features of Code Fiscal in Italy

1.        Every CF generated, has a unique Link which can be sent by Mail 

2.        It is considered in all Italian Municipalities 

3.        It is also considered in the foreign states that have undergone through changes, in name or territory

4.        In case it is lost, residents in Italy may ask for the release of a new CodiceFiscale at the AgenziaDelleEntrate.

Hope, that with the help of this article, you get to know more about the Italian fiscal code card and its benefits.