Berlusconi’s inheritance, Fascina will pay 8 million in taxes: the accounts of all the heirs
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Fininvest inheritance taxes and the exemption hypothesis
One of the knots of Silvio Berlusconi’s legacy, both the economic one left to his descendants and the political one, is linked to the inheritance tax. A workhorse of the former premier with which his heirs will now have to some extent to deal with. Abolished in 2001 by the Berlusconi government, the tax was then reinstated in an attenuated form for large estates in 2006 by the Prodi government. One of the main unknowns are the taxes on 61.2% of Fininvest, which the Cavaliere’s children may not have to pay thanks to article 3 of the Consolidated law on inheritance which provides for total tax exemption in the event that the succession concerns the controlling share of capital companies left to the children under the community regime, as in the case of Berlusconi. The benefit – says the law – applies on condition that the assignees continue to carry on the business activity or hold control for a period of no less than five years from the date of the transfer, making, together with the presentation of the declaration of succession or in the deed of donation, a specific declaration to that effect.
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Jul 10, 2023
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