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New 2014 taxation scheme to purchase a property in Italy

Inviato da il in Taxes in Italy
Taxes to purchase a house in Italy

 In January 2014 the Italian government has issued a new taxation scheme related to the purchase of real estates in Italy.

Firstly, let us see the taxes involved in this new scheme: Registration Tax (Imposta di Registro), Cadastral Tax (Imposta Catastale) and Mortgage Tax (Imposta Ipotecaria).

Now, let us see what the changes are:

- If the house is purchased from a private seller

The Cadastral Tax and the Mortgage Tax have been reduced from 168,00 euro in 2013 to 50,00 euro in 2014.

The Registration Tax for “first house” buyers* has been reduced from the 3% of the cadastral value in 2013 to the 2% of the cadastral value in 2014. Therefore, the new 2014 taxation scheme results advantageous for “first house” buyers.

In the other hand, “second house” buyers*, will have to face an increment of the 2% of the Registration Tax, that has increased from the 7% to the 9%.

If the house is purchased from a private seller, IVA is not due.

- If the house is purchased from a constructor or from a company

If the house is purchase from a developer, a constructor or a private company the Registration Tax, the Cadastral Tax and the Mortgage Tax will cost 200,00 euro each for either “first house” buyers or “second house” buyers. The difference is the amount of IVA that will have to be paid: “first house” buyers are required to pay the 4% of the purchase price of IVA. “Second house” buyers will pay the 10% of the purchase price of IVA.

The box below reports the main changes related to the new 2014 taxation to purchase a house in Italy.

Seller

Tax

FIRST HOUSE

SECOND HOUSE

 

Purchase from a private seller

 

Registration Tax

2% of cadastral value

9% of cadastral value

Cadastral Tax

€50

€50

Mortgage Tax

€50

€50

 

Purchase from a developer or constructor

VAT

4% of purchase price

10% of purchase price

Registration Tax

€200

€200

Cadastral Tax

€200

€200

Mortgage tax

€200

€200

*Fisrt house buyer is who will move its residency in the house that is being purchased.
*Second house buyer is who will not move its residency in the house that is being purchased.

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