Indirect Tax aspects
The Guidance acknowledges and finally endorses several Supreme Court judgements in recent years.
Based on the Supreme Court’s judgements, the transfer of assets and rights to a trust does not constitute an immediate transfer of ownership for the beneficiaries. Rather the taxable event of inheritance and gift tax shall be considered at the time of final transfer of property to the beneficiaries when an actual enrichment occurs in their hands.
Source EY
Latest Posts in "Italy"
- 10% VAT Rate for Ophthalmic Products Classified Under NC Code 3004, Clarifies Italian Tax Agency
- EU Court: VAT Triangular Transactions Apply Even if Goods Delivered to Final Customer, Not Intermediary
- VAT Deduction Allowed for Garage of Professional Office Classified as Residential Property, Supreme Court Rules
- Is VAT Payable on Intermediation Services for the Sale of VAT Credits?
- Applicable VAT Rate for Ophthalmic Medical Devices: Classification of Eye Drops and Sprays
