The Italian tax system includes real estate taxes on properties, and land owned by natural and non natural persons. The taxation of immovable properties and land takes place at purchase, at possession, and at disposal.
At property, or land, purchase, registrar tax, stamp duty, and mortgage tax fall due by the buyer , and the payment is made directly to the notary at conveyance deed. The standard rate of 9% can be reduced to 2% exclusively for the main residency purchase (unless the property is classed as a luxury home). If the property is sold by a business, it is also possible that VAT applies at reduced rate of 10%, reduced to 4% in case of primary residency.
The registrar tax is not calculated on the transaction value, but rather on the cadastral value applying a multiplier to the cadastral value of the property.
Once you own real estate, you are required to pay the annual property tax calculated on the cadastral value of the property, regardless of its market value. Property tax must be self assessed and paid through the F24 form.
On top of the aforementioned taxes, each property is required to pay the annual waste and disposal tax to the local council which is taking care of the trash collection, recycling and disposal of city waste.
Once the property is sold, capital gains tax apply at 26% rate unless the property is residential and the owner bought it 5 years ago or longer; in that case no tax is due on the sale of the property.
Are you planning to stay in Italy long term, live in Dolce Vita or buy a house as an investment? Italy is full of opportunities both in the tourism sector and in many rising cities. The real estate sector is particularly dynamic in the cities with a lot of universities such as Milan, Turin, Bologna, Trent and Bolzen …
COSTS OF BUYING A HOUSE IN ITALY: HOW MUCH DOES IT REALLY COST? Read More »
Do you have a property in Italy? Or are you planning to buy one? Italian real estate sector has boomed in the past years due to the rise of airlines coming to Italy, the decrease in travel prices, and a railway system that has been improved a lot in the last decade making traveling through cities fast and affordable. …
PROPERTY TAX IN ITALY: THE ULTIMATE GUIDE FOR 2024 Read More »
The Superbonus is a recent tax break introduced by the recent Decreto Rilancio increasing the tax credit percentage to 110% for qualifying expenditure paid between July 1st 2020 to December 31st 2021. The following expenditure qualifies: Energy efficiency improvements Structural seismic improvements Solar panels Electric car charging stations Double glazed windows The Superbonus, substitutes the Ecobonus and the Sismabonus. Check out now how …
Il Superbonus è un’agevolazione prevista dal Decreto Rilancio che eleva al 110% la detrazione delle spese sostenute dal 1 luglio 2020 al 31 dicembre 2021, per specifici interventi in ambito di: Efficienza energetica Interventi antisismici Installazione di impianti fotovoltaici o delle infrastrutture per la ricarica di veicoli elettrici negli edifici. In pratica il Superbonus, sostituisce e integra l’Ecobonus e il Sismabonus. Scopri subito …
SUPERBONUS 110%: COME RISTRUTTURARE CASA GRATUITAMENTE Read More »
It’s recent news the Superbonus 110% has been recently extended to 2023, and this is great if you intend to renovate your home. Superbonus 110% isn’t the only available tax break on house renovations; find out how you can save on your taxes whilst renovating your Italian home. Who can benefit of the Superbonus and …
Before starting it is important to remember that, under Italian law, not all foreigners can purchase property. Italian or EU citizens can purchase Italian properties, and so can those who fall under national reciprocity agreements (like citizens of the United States). Renovating a home is no simple task, especially if you plan on doing it …
Italian Morgage: everything you need to know If there’s any product worth investing in, it’s real estate. You don’t have to be Italian to apply for a mortgage on an Italian property though rules became more strict in the wake of the 2008 Financial Crisis. More recent changes have made it so that those, even non-residents, who wish …
Tax and accounting aspects related to the possession of Real Estate for trade owned by companies. IRES taxation, IRAP, VAT and local taxes. Finally, the correct indication in the financial statements. Goods of businesses are the goods for the production or exchange of which the business activity is directed. Companies’ ownership of real estate can …
The possession of real estate not rented in the same municipality as the main residence determines the obligation to declare an income for IRPEF purposes. The income is equal to 50% of the cadastral income revalued by 5% increased by 1/3. This is in addition to the normal IMU payment. All info in this article. …
Non-rented property: IMU and IRPEF rules and regulations Read More »
The main house: what it is and how it differs from the concept of the first home. All the indications for the taxation of the main house and its appurtenances. In this article, we will analyze the tax rules regarding the taxpayer’s primary residence. The possession of a property classified as a principal residence allows …
ACCA Member
Dottore Commercialista
eInvoicing Platform
