Inheritance tax: allowance for heirs' gifts to recognised foundations or associations and €1,500 allowance per share

The patronage Act rewrites Article 788 II of the General Tax Code: an heir, donee or legatee receives an allowance on their share equal to the value of the assets received from the deceased that they hand over, permanently and in full ownership within six months of the death, to a foundation or association recognised as being of public utility, to the State or to a body listed in Article 794. This allowance cannot be combined with the income tax reduction for donations. A new III adds a €1,500 allowance on each inheritance share where no other allowance applies. Article 10 exempts regions, departments, municipalities, their public bodies and public hospitals from gift and inheritance duties on assets used for non-profit activities.