Italian Tax Authority publishes guidance on taxation of trusts in Italy

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EY Global

7 Nov 2022 PDF
Subject Tax Alert
Categories Mobility Tax
Jurisdictions Italy

On 20 October 2022, the Italian Tax Authority published long-awaited Circular Letter n. 34/E (the Guidance) on Trust tax treatment in Italy.

The Guidance sets out the direct and indirect taxation rules for resident and nonresident trusts and tax monitoring obligations. The Guidance has significant consequences for the use of trusts in Italy and for beneficiaries.

A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.

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