• I signed a life insurance policy with VITIS LIFE with an initial premium of 2.4 million EUR. After some time I realize I need cash for unexpected needs and ask…

    Our reply
  • I'm single and I live in my house with my partner (value of EUR 1 million). At my death, I intend to transfer the totality of my patrimony to my partner…

    Our reply

" I signed a life insurance policy with VITIS LIFE with an initial premium of 2.4 million EUR. After some time I realize I need cash for unexpected needs and ask the Company for partial surrender of the policy for an amount equal to 150.000 EUR. Do I have to declare any capital gains realized in my tax declaration? "


Our reply:

VITIS LIFE, make a valuation of the contract at the time of your request and finds out that there is a capital gain on the reserve (net of any surrender charges).

VITIS LIFE pays you the amount requested and, as a withholding agent, shall reserve the right to withdraw from my contract a tax of 26%, 20% or 12.5% depending on the moment the capital gain is realized. By doing so you are exempt from the obligation to bring in your tax return capital gains built on redemption.


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