Thursday 21 March 2013

Tax to buy real estate in Italy

PURCHASE TAX THAT TO PAY THE BUYER:
If you want to buy a property in Italy you have to pay this tax:
-If the real estate you are buying is your first house in Italy and you can to decide to be a resident and you can say Notary at rogito that you want get benefit for PRIMA CASA (FIRST HOUSE) (you have 18 months time to become a resident in Italy) the taxes that need to be paid are less the tax for second house in Italy:
3% registration tax based on the cadastral value of the house, which in Italy is half of the market value.
1 stamp of 14,62 euros every 4 sheets of the contract.
168,00 euros for the mortgage tax.
168,00 euros for the cadastral tax.
-If you are buying as not resident, you will pay 7% of the registration tax, 1% for cadastral tax, 2% for the mortgage tax.
-If you are buying from a Building company you will have to also pay the VAT (4% as resident and first house and 10% as not first house plus 168,00 euros for the mortgage tax, 168,00 euros for registration tax, 168,00 euros for the cadastral tax).



The notary's fees is about 2% of the value of the property.
The cost for surveyor's report is about 1500 euros plus vat with English translation.

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