Categories:Italy,Real Estate,Tax

Italy Real-Estate Update — November 2013

Starting from 1 January 2014 significant changes will come into effect with reference to registration tax, as well in respect of cadastral and mortgage tax application in Italy. On the contrary, the VAT treatment of real-estate investments will not be affected by such new provisions.

The new rules will be applicable to transfers of real-estate assets carried out starting from 1 January 2014. The reorganisation of registration tax rates provides only two proportional rates for all real-estate transfers: two per cent in case of transfer of non-luxury residential buildings designated to be the main dwelling of the purchaser; nine per cent in all the other cases. Registration tax applied with the proportional rates cannot be in any case lower than €1,000 (£620).

Due to the fact that the application of the ‘principle of alternativity’ (between VAT and registration tax) will remain valid also after 1 January 2014, in case of transfer of real-estate assets subject to VAT or of non-residential buildings that are exempted from VAT, registration tax will remain applicable at the fixed amount, even if the amount of €168 will be increased to €200 (also for mortgage and cadastral taxes — see below)…

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