Reduced inheritance tax for gifts made by heirs to certain organizations
Article 8 of the Law of 1 August 2003
On the net share of any heir, donee or heir for the purpose of calculating inheritance tax, a reduction equal to the amount of grants granted to certain organizations of general interest, the State, local authorities or their public institutions. The abatement applies to all estates, regardless of the nature of the property (movable or immovable). Note that:
- For donations made to a public utility associationof the State, the local authorities or their public establishments, only gifts of money;
- For donations made to a public benefit foundation, the heir has the option of paying a sum of money, or to achieve a liberality in kind (e.g. donation of a collection of art, a report building, etc.). These donations must be made permanently and in fee simple ownership within six months of death. In the case of gifts in kind, the value of the property is assessed by the donor.
See about it : Article 788 of the CGI
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