How to Buy a Property in Italy – Property Taxes and Other Costs ❤️

How to Buy a Property in Italy – Property Taxes and Other Costs
❤️ http://bit.ly/EEFILM2 ❤️
Buying Italian Property is Taxing

The tax payable on your Italian property purchase depends on a number of factors, such as:

(1) who you buy the property from;

(2) will it be your main residence; or

(3) will it be a holiday home?

There are 4 types of tax to pay when buying Italian property.

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Have you ever gulped at the amount of tax you end up paying when buying a property?

In the UK, the buyer has to pay Stamp Duty.

Such property transaction costs might not be referred to as being a tax, but the fact is, that either the buyer, or the seller.... or both, pay for something that only benefits your government - not you!

Buying a property in Italy is no different - except there's more than one property tax to pay - there are at least 4!

In this video....

Stage #8: Property Taxes and Other Costs....

Part 1 covers the main property purchase or buying taxes you'll have to pay, and...

Part 2 touches on other property-related taxes and on-going costs.

So, on to....

Part 1: Property Purchase Taxes:

There are basically four types of tax to pay on your property purchase:

(1) Land Registry tax (imposta ipotecaria):

This is an obligatory tax calculated on the cadastral value of the property as shown in the deed of sale, the rogito.

(2) Cadastral tax (imposta catastale):

The amount to be paid (the base imponibile) is calculated on the cadastral information in the property deed.

(3) Stamp Duty (imposta di registro):

The rules for calculating how much imposta di registro you have to pay when buying property in Italy is quite involved.

(4) VAT (IVA - imposta sul valore aggiunto):

IVA is worked out as a percentage of the price of the property.

Part 2: Other Property-Related Taxes and On-Going Costs:

Check out a very handy infographic on the ongoing taxes payable regarding home ownership - you'll find the URL link here:

https://www.gate-away.com/news/taxes-ownership-house-italy-2019/

In addition, IMU (Imposta Municipale sugli Immobili) tax was introduced in 2012, and is a tax payable by homeowners and other individuals having a qualified real estate interest in a property, such as a life interest.

Check out the URL link below that helps explain what IMU, is and what is required of you:

http://italianinheritance.it/blog/italian-property-taxes-how-to-calculate-and-pay-imu-tax/

To take these taxes into account, you really must ensure you engage the services of a competent Italian property lawyer to ensure you avoid the many pitfalls in buying a property in Italy.

Note also that the tax costs, tax rates and percentages.... as well as the tax and inheritance laws will change over time, so ALWAYS undertake your due diligence thoroughly to ensure you are up-to-date with all of the information you require to help you make an informed decision on any property or property-related matter.

For the final stage of the Italian property buying process, you will discover in the next and final video, Part 9, the bonuses to help you buy property in Italy, so look out for that.

In the meantime, don't forget to check out the Airbnb URL link here:

http://bit.ly/airbnb-ExpatEssentialsForItaly

for some great deals if you need to extend your stay to finalise and close your property purchase deal, or if you fancy an extended break to further discover the delights of Italy.

And... don't forget to download your FREE e-book entitled: You Can Start a Brand New Life in Italy, here:

http://bit.ly/EEFILM2

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How to Buy a Property in Italy – Property Taxes and Other Costs

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