Legal & Taxes in Italy

IMU – Property tax

The annual real estate tax “IMU” is a municipal tax, the amount of which depends on the type of property (apartment, detached house or luxury villa) and the size of the land.

The amount of the property tax varies according to the municipality and the registered cadastral value of the property.

 

“Nuova IMU ” (New IMU from 2020)

Up to now, the communities levied the IMU real estate tax and in addition the TARI and TASI taxes (for waste and garbage as well as for the infrastructure and ambience of the community). By the budget law 2020, these taxes have now been merged into the “Nuova IMU”.

It remains valid that real estate used as primary residence is exempt from this tax (exception: luxury real estate). Real estate used as secondary residence must pay this tax.

The payment of the tax is a bring-debt, i.e. the payer must calculate and pay the tax himself. The first instalment is due by 16.06. and the second instalment by 16.12. at the latest.

Income from renting your property

The income from the rental of your property must be declared and taxed.

Our recommendation is to consult an Italian tax consultant after the purchase of your property. Their service is usually not very expensive.

Bücher, Richterhammer und Goldwaage

Required documents for the purchase

  • Identity card or passport
  • Address of the buyer
  • Italian tax number: Everyone who lives or owns property in Italy needs a tax number. The tax number can be obtained through an Italian tax office.
  • Bank account in Italy (not mandatory but advisable)

The above information is not legal advice. No liability can be accepted for its accuracy.