Effectively. The value of property received by gift, inheritance or bequest shall not be taken into account in the calculation of the duties owed to the Treasury Department when such property is delivered by the person who received it to a recognized foundation of public utility.
The same rule applies to the sums paid by the donee , heir or legatee to a recognized association of public utility, to the State or to certain organizations (examples: regions, departments).
What are the conditions for this exemption from donation or inheritance tax ?
- that the donation be made definitively and in full ownership , within six months of the death;
- that the declaration of succession of the supporting documents be attached.