This guide briefly sets out the main Italian income tax issues arising on the purchase or use of, residential, urban (i.e. non agricultural) real estate in Italy to carry on a lettings business. Apart from the income tax, if you rent out property who […]
The Land Registry Category is an important variable in determining the tax payable in respect of real estate. All registered property in Italy is assigned a category. You can see the assigned category by getting hold of land registry extract or visura catastale. Italy has […]
As the summer heatwave starts to make itself felt, we turn to air conditioning systems. The price of air conditioning kit continues to fall but given that for, fixed systems, at least, professional help with installation is a must, the cost can be expensive. The […]
Brexit has had a potentially expensive impact for Italian tax residents owning real estate in the UK. Italian tax residents are required to pay a wealth or ownership tax on foreign (ie. non Italian) real estate (unless the property is owned and occupied as a […]
A second home in Italy If you have bought a house in Italy, but do not intend to live in it as your habitual abode, it will be considered a second home and not an “abitazione principale” or “prima casa” (main home). Under Italian law, […]
What is it? Tax Credit for renovation/refurbishment work This consisted originally of a tax deduction – a reduction in computing personal income tax (IRPEF) of 36% (ie. a tax credit) of the expenses incurred, up to a total amount not exceeding Euro 48,000 per property […]
This is a (very) simplified table of the registration taxes due on certain documents. The tax office will apply the tax according to the substance of the effect that the document has, not the form.
What is the Tax Relief? Italy’s recent Finance Law for 2020 extended the tax credit equal to 50% of a maximum of €10,000 of expenditure for furniture and household appliances in connection with buildings subject to renovation. The relief applies to expenditure during the course […]
Does 7% flat tax regime apply to pensioners residing in the South in receipt of 401K and social security payments? The technical explanation to the US/Italy double tax treaty (at p.58) states that that distributions from qualified plans under section 401(a), individual retirement plans (including […]
The “visura catastale” (Land Registry Extract) is a document issued by the Italian Tax Agency of the Italian Republic containing information recorded at the Land Registry in relation to real estate – buildings or land – located in Italian national territory. The Visura varies depending […]
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