How to purchase an House in Italy First Part
How to purchase an house in Italy.
1. INTRODUCTION
In Italy, the purchase of a home still represents one of the main forms
of investment.
With this publication, the Internal Revenue Service wants to provide a summary outline
of the main rules to follow when buying a home, so that you can
“take advantage” of all the benefits provided by law (reduced taxes, limitation of the power of
value assessment, etc.) and to face with serenity such an
important.
The guide is aimed at buyers who are natural persons (not acting in the exercise of
commercial, artistic or professional activities) and refers both to purchases and sales between
“individuals” as well as those between businesses and individuals.
First, it describes the tax treatment given to the purchase of
a home in general, then that applicable in the presence of “first home” benefits.
Particular attention is paid to the “price-value” system. Not everyone may know
that under this rule:
- the taxation of the deed takes place on the value calculated according to the cadastral rent
of the property and not on the consideration actually paid
- the power of the Internal Revenue Service to assess value is limited
- is entitled by law to a reduction in notary fees.
The first part of the guide also provides useful pointers to follow before
proceeding with the purchase.
One chapter of the publication is devoted to the recent tax breaks introduced by
Decree Law No. 73/2021 in favor of young buyers (under 36 years of age)
who enter into a “first home” purchase deed between May 26, 2021 and Dec. 31
December 2022.
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