A deed concerning the donation of shareholdings or businesses to the donor’s spouse or descendant, provided it meets the exemption requirements set out in Article 3, paragraph 4-ter of Legislative Decree No. 346/1990, is not subject to gift tax.
The exemption rule, as revised by Legislative Decree No. 139/2024, applies to donations of:
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businesses or business units pursuant to Article 2555 of the Civil Code;
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participation interests of any size in partnerships resident in Italy, or in EU or EEA countries, or in countries ensuring adequate exchange of information;
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participation interests, both shares and non-share participations, in companies with share capital resident in Italy, or in EU or EEA countries, or in countries ensuring adequate exchange of information, but only insofar as they allow the donee to acquire “control pursuant to Article 2359, first paragraph, no. 1 of the Civil Code” or to strengthen “an existing control”.