{"id":87001,"date":"2023-03-31T15:28:05","date_gmt":"2023-03-31T13:28:05","guid":{"rendered":"https:\/\/www.we-wealth.com\/news\/buying-property-in-italy-understanding-taxation-rules-for-non-resident-individuals"},"modified":"2024-03-14T13:25:15","modified_gmt":"2024-03-14T12:25:15","slug":"buying-property-in-italy-understanding-taxation-rules-for-non-resident-individuals","status":"publish","type":"news","link":"https:\/\/wp.we-wealth.com\/en\/news\/buying-property-in-italy-understanding-taxation-rules-for-non-resident-individuals","title":{"rendered":"Buying Property in Italy: Understanding Taxation Rules for Non-Resident Individuals"},"content":{"rendered":"<div class=\"bullet-point\"><\/div>\n<p>Suppose you are a non-resident individual who buys a real estate property in Italy. In that case, you will be subject to the <strong>Land Registry Tax<\/strong> (Imposta Catastale), also known as the registration tax. This tax is payable upon the transfer of the property&#8217;s ownership. <br \/>\nThe registry tax varies and can be as high as 9% of the property&#8217;s value, and it is the <strong>Italian Revenue Agency (Agenzia delle Entrate)<\/strong> which determines it. It&#8217;s worth noting that the declared value of the property may differ from the purchase price. The land registry tax rate is only 2% if you don&#8217;t own any other properties in Italy, and the house is not considered a luxury property under Italian law.<\/p>\n<p>Then there&#8217;s the <strong>Capital Gains Tax (plusvalenza)<\/strong>, payable only when you sell the property and make a profit. If you&#8217;re a non-resident selling the purchased property in Italy, you&#8217;ll be subject to a capital gains tax of 26% on the difference between the purchase and sale prices. However, if you&#8217;ve owned the property for over five years, there&#8217;s no Italian capital gain tax to pay. It&#8217;s essential to check the taxation rules in the State of residence and the convention against double taxation between Italy and the foreign State of residence.<\/p>\n<p>Suppose you decide to rent out your property in Italy. In that case, you&#8217;ll have to pay <strong>annual direct taxes (IRPEF)<\/strong> in Italy and submit your tax return; you also have the option of choosing the 21% or 10% fixed direct taxation (<strong>cedolare secca<\/strong>) if certain conditions are met. If you decide not to rent the property out, you&#8217;ll only need to pay the <strong>IMU (L&#8217;imposta municipale unica)<\/strong> about 1% of the tax value of the house. The second annual tax is the <strong>Tari (Tassa sui Rifiuti), or the yearly waste tax<\/strong> payable to the municipality.<\/p>\n<p>Important to know is that, as a non-resident, you&#8217;re entitled to all the tax concessions provided for building renovations available to resident individuals.<\/p>\n<p>Hiring a lawyer, notary, and agent to facilitate the purchasing process in Italy is wise and strongly recommended.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Italy is a popular and fantastic destination for people looking to buy property overseas. However, non-resident private individuals must understand the taxation rules and regulations for real estate purchases in Italy.<\/p>\n","protected":false},"author":1,"featured_media":87241,"template":"","categories":[2256,2269],"tags":[],"collana-video":[],"class_list":["post-87001","news","type-news","status-publish","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Buying Property in Italy: Understanding Taxation Rules for Non-Resident Individuals | WeWealth<\/title>\n<meta name=\"description\" content=\"Italy is a popular and fantastic destination for people looking to buy property overseas. 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