The foundation of the inheritance tax in Italy is based on the
principle of unity of inheritance. This simply means that any non-property
possessions are allocated under the law of the country of the last domicile and
the assets of the property must be managed as per the law of the country where
the property is situated.
If you have a property in Italy,
then it means that you have knowledge regarding the law of Italy. The Italian
inheritance law states that if a person dies, then the family members have full
right to inherit the share of their caste. But if there is no will present then
the law of forced heirship is applied to them.
Under the inheritance law of
Italy, there are two types of Italian Inheritance Tax that are payable among
which, the first is estate tax and the other is a property transfer tax. In
both these, the estate tax is applicable depending on the value of the estate
accrued for each of the beneficiaries and the grade of the relationship between
the beneficiary involved and the deceased. And the property transfer taxes are
applied when real property is involved in the sequence.
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