New Italian Administrative Guidelines on Taxation of Trusts

On 20th October 2022, the Italian Revenue Agency (“IRA”) issued the Circular Letter No. 34/E setting out new guidelines on the taxation of trusts (the “Circular Letter”).

Income tax

As for trust, Italian tax regime varies accordingly to the nature of the of the trust itself. According to Italian tax law, the following distinction must be made:

  • Disregarded trusts;
  • Discretionary;
  • Non-discretionary trust.

Click here for the full article