Understanding the tax rules governing gifts is essential for planning the transfer of wealth in an efficient manner and without unwanted fiscal burdens. Below are the most frequently asked questions, drawing on recent legislative and case-law developments — in particular ruling no. 7442/2024 of the Supreme Court — and the provisions currently in force in Italy.

What does ruling no. 7442/2024 of the Supreme Court establish regarding gifts?

The Supreme Court, in ruling no. 7442/2024, clarified that informal and indirect gifts are not subject to tax, as there is no obligation to execute them by notarial deed. This reverses the previous position of the Revenue Agency, which applied tax even to transfers such as bank transfers and cheques made without a written instrument.

What are the tax rules for direct gifts in Italy?

In Italy, direct gifts between parents and children, or between spouses, are exempt from tax up to one million euros; for amounts above this threshold, a rate of 4% applies. Furthermore, the Supreme Court ruling specifies that informal gifts do not count towards reaching the exemption threshold.

How is tax applied to gifts in favour of other relatives or third parties?

For gifts made to other relatives or third parties, if the gift is not registered, no tax applies. However, tax is triggered in two circumstances:

  • If the gift comes to light during tax investigations, with rates of up to 8% applied
  • If the gift is voluntarily registered.

What options exist for the transfer of real estate assets?

For real property, a gift remains a useful option for direct transfers. However, where the objective is to ensure liquidity, investments and financial instruments may prove more advantageous, as they offer greater management flexibility and a wider range of opportunities.

Why is it essential to plan succession in advance?

Planning succession in advance is vital to avoid disputes between heirs and to reduce the fiscal impact. Engaging independent financial advisers makes it possible to select the most appropriate strategy — whether through gifts or investments — thereby preserving wealth and optimising its tax-efficient transfer.