Analysis of property tax for Italian immigrants

#ItalyImmigration# Introduction The taxes on immigrants purchasing real estate in Italy generally include stamp duty, land registration tax, cadastral tax, value-added tax and other additional taxes. The following is a compiled introduction to property taxes for Italian immigrants, welcome to read!

Article 1 Introduction to Property Tax for Italian Immigrants

The “cadastral declaration value” of the property on the sales deed represents the basis for the first three taxes we just mentioned. If you buy a main residence in Italy, you purchase the residence on the property you purchased from a private seller or a company that does not charge VAT within 18 months of signing the final contract, and spend one year at that address Over 6 months, stamp duty is equivalent to 2% of the property value (minimum payment is 1,000 euros); land registration tax and cadastral tax are 50 euros each.

Be careful! If you buy your dream house from a company that charges VAT, you'll pay a little more. In this case, VAT is stabilized at 4% of the declared property price, while the other taxes mentioned earlier are 200 euros each.

If you buy a property in Italy as your second home, you must pay a stamp duty equivalent to 9% (the minimum payment is 1,000 euros); the land registry and cadastral tax are 50 euros each. If you buy from a company that applies VAT, you will also have to pay VAT, which is fixed at 10% of the declared property price, plus 200 euros for each of the three other taxes.

After the buyer purchases the property in Italy, i.e. IUC and TARI including IMU and TASI, all taxes are payable.

IMU (property ownership tax): Unless there is a luxury home, the owner of the original home will be exempt from IMU. But if you have a second home, you have to pay IMU. It applies to the cadastral value of the property plus 5%, which you have to multiply by a factor that may vary from town to town.

TASI: Includes services provided by the city hall where the property is located, such as street light taxes and maintenance fees. Also in this case, the calculation of TASI may vary from town to town. TASI does not exist in the Autonomous Provinces of Trento and Bolzano and is replaced by IMI and IMIS.

TARI: It involves a tax on waste collection, the payment of which consists of a fixed rate based on square meters, and a variable rate based on the number of family members living on the site.

Part 2 The Four Major Advantages of Italian Immigrants

1. Economic Advantages

As the fourth largest economy in Europe, Italy not only It is a founding member of the North Atlantic Treaty and the European Union, and a member of important international organizations such as the G8, the Group of 20, the Organization for Economic Cooperation and Development, the World Trade Organization, and the European Parliament, and has strong economic strength. Since the outbreak of the economic crisis, the Italian economy has recovered rapidly and has a strong ability to withstand the crisis.

Import and export trade is an important economic pillar of Italy. If you choose to start a business in Italy, the unique world market will be open to you.

2. Business advantages

Italy’s private economy is the main body, accounting for more than 80% of its GDP. Small and medium-sized enterprises account for more than 98% of the total number of enterprises, which is called the "kingdom of small and medium-sized enterprises".

Tourism is a global tourist destination with developed tourism. Tourism is the second largest industry, accounting for 10% of the gross national product. Italy provides a great breeding ground for businessmen. We Chinese especially like to be able to run our own business. Italian Entrepreneurship Immigration encourages you to come to Italy to start a business and develop your own company's European business, so the success rate is also high.

3. Educational advantages

The world’s first university, the University of Bologna, is located in Italy. It can be said that Italy is the birthplace of university education in the world.

Moreover, Italy also has many high-level art schools. As a country of art, Italy’s artistic attainments are definitely among the best in the world. There is a reason why Italy is the leader in education. Italy provides the children of immigrants with the right to free public education. 55 of the 88 universities in the country are public universities, and children of immigrants can attend the world's top educational institutions for free.

4. Medical advantages

The world’s second largest medical system serves immigrants, and you can enjoy it when you come to Italy.

Italy has the second largest medical system in the world, with complete medical institutions of all types. Public hospitals, private hospitals, health clinics, specialist hospitals and other different hospitals are all over Italy.

Looking at various conditions, Italy has a high overall level in terms of national comprehensive strength and national welfare. Going to Italy will give you a more comfortable working environment, giving your company and business a larger platform and broader development space.

Extended reading: Problems with house purchase by Italian immigrants

First, are house prices inflated?

With the introduction of house buying and purchasing in Italy, The immigration policy linked to residence status, Italy's immigration door has opened, and investors from all over the world have poured in, which may lead to inflated housing prices. Investors need to be more vigilant and investigate through multiple channels to understand the reasonable price of real estate in the country.

Second, is there any problem with the quality of the house?

Before investors decide to purchase a house and immigrate, conduct an on-site quality inspection of the house to check whether there are cracks, falling off and other quality problems. .

Third, what is the future appreciation prospect of houses?

Affected by the Milan World Expo, the Milan real estate market has been growing in transaction volume for seven consecutive quarters (annual growth of 5%). At the end of the year, around Milan Regional housing transaction volumes also started to increase (+2.1%).

Fourth, is there sufficient legal protection for house-buying immigrants?

There are two different types of visas available for purchasing Italian real estate: one is an optional residence visa valid for 1 year, and the other is Long-term tourist visa for real estate investment valid for 5 years.