{"id":132085,"date":"2025-10-31T18:36:44","date_gmt":"2025-10-31T17:36:44","guid":{"rendered":"https:\/\/www.we-wealth.com\/?post_type=news&#038;p=132085"},"modified":"2025-10-31T18:36:49","modified_gmt":"2025-10-31T17:36:49","slug":"trusts-and-inheritance-tax-all-the-latest-news-on-the-2025-reform","status":"publish","type":"news","link":"https:\/\/www.we-wealth.com\/en\/news\/trusts-and-inheritance-tax-all-the-latest-news-on-the-2025-reform","title":{"rendered":"Trusts and inheritance tax: all the latest news on the 2025 reform"},"content":{"rendered":"\n<p>Among the most significant changes introduced by the reform that recently re-regulated <strong>gift and inheritance tax<\/strong> are the new provisions on <strong>trusts<\/strong>, an institution in relation to which, following numerous critical issues that have emerged over the years regarding the application of tax regulations, the legislator has defined specific regulations also in the area of <strong>indirect taxes<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Trusts included in the new inheritance and gift tax regulations<\/strong><\/h2>\n\n\n\n<p>Through the integration of Article 1, paragraph 1, of Legislative Decree No. 346\/1990, the new legislation has in fact <strong>expressly included trusts<\/strong> among the acts of disposal that may be subject to inheritance and gift tax. As a result of this inclusion, Articles 2 and 4-bis of the same decree have also been subject to regulatory intervention, with the introduction of specific regulations dedicated to trusts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>When the tax applies: exit taxation and timing of taxation<\/strong><\/h2>\n\n\n\n<p>Firstly, it was immediately clarified that trusts and other restrictions on use are relevant for the purposes of applying inheritance and gift tax where they result in gratuitous enrichment of the beneficiaries, with the consequence that, subject to the clarifications set out below, the tax is applied at the time of transfer of the assets and rights to the beneficiaries.<\/p>\n\n\n\n<p>It is clarified that, for the purposes of self-assessment of the tax, the <strong>beneficiary reports the transfer<\/strong> pursuant to Article 19 of the consolidated text of the provisions concerning registration tax, the term of which starts from the aforementioned transfer deed.<\/p>\n\n\n\n<p>With regard to the time of taxation, the reform \u2013 as already mentioned \u2013 intended to <strong>put an end to the uncertainty <\/strong>that, over the years, saw <strong>first the criterion of taxation on entry<\/strong> prevail at the time of the trust&#8217;s endowment, followed by multiple contrary court rulings that instead established the <strong>principle of taxation on exit<\/strong>, which was \u201cincorporated\u201d in Circular No. 34\/E of 2022.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Option for taxation on transfer: choice of settlor or trustee<\/strong><\/h2>\n\n\n\n<p>The new Article 4-bis of Legislative Decree No. 346\/1990 establishes that<strong> the tax must be self-assessed<\/strong> at the time of the transfer of assets and rights to the beneficiaries, <a href=\"https:\/\/www.we-wealth.com\/voices\/trust-come-funziona-la-tassazione-in-uscita\"><strong><u>known as exit taxation<\/u><\/strong><\/a>, applying the rates and exemptions existing at that time based on the degree of kinship between the beneficiaries and the settlor.<\/p>\n\n\n\n<p>However, it is provided that the settlor of the trust or other restriction on use or, in the case of a <a href=\"https:\/\/www.we-wealth.com\/voices\/il-trust-testamentario-cose-e-come-funziona\"><u>testamentary trust<\/u><\/a>, the trustee may opt to pay the tax at the time of each transfer of assets and rights or at the opening of the succession (so-called<strong> option for taxation on entry<\/strong>). In this case, the tax base and the applicable allowances and rates are determined in accordance with the provisions of the consolidated law with reference to the total value of the assets and rights and the relationship between the settlor and the beneficiary at the time of the transfer or the opening of the succession.<\/p>\n\n\n\n<p>If, at the time of the transfer or the opening of the succession, it is not possible to determine the category of beneficiary, the tax is calculated on the basis of the highest rate, without applying the exemptions referred to in Articles 7 and 56 of the Consolidated Law. If the settlor or, in the case of a testamentary trust, the trustee opts to pay the tax on entry, subsequent transfers to beneficiaries belonging to the same category for which the tax was paid in advance are not subject to tax.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Retroactive application and trusts already established<\/strong><\/h2>\n\n\n\n<p>Pursuant to paragraph 4 of the same article, the above rules also apply to trusts already established on the date of entry into force of the reform.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Interpello 170\/2025 and trust resettlement: the positions of the Revenue Agency<\/strong><\/h2>\n\n\n\n<p>It should be noted that, following the reform, there has also been recent debate as to whether or not <strong>trust resettlement transactions <\/strong>carried out by the trustee are subject to inheritance and gift tax.<\/p>\n\n\n\n<p>The <strong>transfer of assets from an \u201coriginal\u201d trust to one or more \u201csubsequent\u201d<\/strong> trusts is, in fact, a normal <strong>reorganization<\/strong> operation in the context of <strong>family asset planning<\/strong>. On this point, the intervention of the Revenue Agency, with ruling no. 170\/2025, caused surprise among operators, as it clarified its position, qualifying this operation as a relevant act for the purposes of gift tax.<\/p>\n\n\n\n<p>However, this interpretation has raised numerous <strong>concerns<\/strong> in legal circles, given that resettlement, as a mere transfer of assets from one trust to another, would not in itself be sufficient to determine an enrichment of the beneficiaries.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Territoriality of the tax: when the trust is taxed in Italy<\/strong><\/h2>\n\n\n\n<p>With regard to the <strong>territoriality of the tax<\/strong>, Article 2 has been supplemented by paragraph 2-bis, which provides that, for trusts and other restrictions on use, the tax is due in relation to all assets and rights transferred to the beneficiaries, if the settlor is resident in the State at the time of the separation of assets.<\/p>\n\n\n\n<p>In the case of a non-resident settlor, tax is payable only on assets and rights existing in the territory of the State transferred to the beneficiary.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 2025 reform clarifies the taxation of trusts in inheritance and gift tax. Here is what changes for beneficiaries and settlors.<\/p>\n","protected":false},"author":85135,"featured_media":132086,"template":"","categories":[2262],"tags":[],"collana-video":[],"class_list":["post-132085","news","type-news","status-publish","has-post-thumbnail","hentry","category-outlook-e-previsioni"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trusts and inheritance tax: all the latest news on the 2025 reform | WeWealth<\/title>\n<meta name=\"description\" content=\"The 2025 reform clarifies the taxation of trusts in inheritance and gift tax. 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