Italy's Top Court: Bank Transfers From Parents May Face 8% Tax
Listen to the story
In Italy, parents often send money to their children. They use a bank transfer. This is a fast way to send money from one bank account to another.
Now, a top court has made a new rule. The court is called the Cassazione. It is the highest court in Italy for this kind of case.
The court said: if parents send a lot of money, the family may pay a tax. The tax is 8%. This is money you pay to the government.
This can happen even if the parents do not call the money a gift. In Italy, gifts of money can have a special tax. This is called a donation tax.
Before, many families thought a normal bank transfer was safe from this tax. Now, the Agenzia delle Entrate can check this. This is the Italian tax office.
The tax office looks at big money transfers. If the transfer looks like a gift, they may ask for the 8% tax.
This new rule is important for many Italian families. Parents often help their children with money for a house or a car.
Families now need to be careful. They should understand the rules about money from parents.
Vocabulary6 words
- bank transfer
- sending money from one bank account to another
- Cassazione
- the highest court in Italy
- tax
- money people pay to the government
- gift
- something you give to someone for free
- donation tax
- a tax on money given as a gift
- Agenzia delle Entrate
- the Italian government office for taxes
📚 Ready to use these words in a real conversation?
Practice live with a real tutor on Preply.
Quiz
Answer key
1. Money from parents can face an 8% tax 2. No 3. The Agenzia delle Entrate
✅ Nice work on the quiz!
Keep the momentum going — book a live English lesson with a Preply tutor.
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
In Italy, parents often send money to their children. They use a _____. This is a fast way to send money from one bank account to another.
Now, a top court has made a new rule. The court is called the _____. It is the highest court in Italy for this kind of case.
The court said: if parents send a lot of money, the family may pay a _____. The tax is _____%. This is money you pay to the government.
This can happen even if the parents do not call the money a _____. In Italy, gifts of money can have a special tax.
Before, many families thought a normal bank transfer was safe from this tax. Now, the _____ can check this.
The tax office looks at big money transfers. If the transfer looks like a gift, they may ask for the 8% tax.
🎓 Enjoyed this story?
Turn today's reading into real speaking practice with a live Preply tutor.
