Trusts taxation in Italy: the current state of art

Abstract

Although a legal instrument typical of common law Countries, over the years, the trust has become better known in Italy, also due to the ratification of the Hague Convention in 1989. This has led to the introduction in the Italian legislation of a specific discipline regulating the taxation of trusts, together with the issue of numerous guidelines provided by the Italian Tax Authorities, which this in depth article tries to address in detail, even focusing on the more troublesome aspects, especially for income tax purposes.