October brought a couple of positive news for those who are planning the distribution of their assets.
First of all, with Circular No. 29 of 19 October, the Revenue Agency finally acknowledged that in the current Inheritance Tax system the so-called Reunion for Inheritance Tax purposes (coacervo successorio) is no longer applicable.
This is the obligation to add to the value of the estate the discounted value of the donations made during the lifetime of the deceased to the heirs and legatees. In the previous Inheritance Tax system, this rule meant to allow the application of the Inheritance Tax at progressive rates by brackets.
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