Buying property is never easy, especially when it comes to tax. There are several taxes to be considered that may vary according to the type of property, its condition, and its purpose.
Here are the most important ones you should be informed about.
1. Stamp Duty
Stamp Duty is a duty or tax that you might have to pay if you buy a residential property or a piece of land in Italy over a certain price.
Want to know about Stamp Duty in more detail Click Here.
2. Land Registry Tax
The Land Registry Tax or imposta cadastral is a fixed tax paid in order to change the ownership of the property from the previous owner to the new one in the cadastral lists.
The price varies from €50 to 200€ depending on the category of the seller.
3. Value Added Tax (VAT)
The VAT or IVA, from a private seller is 0; however it varies from 4% to 22% in case the property is purchased from a registered company.
4. Notary Cost
A buyer needs a notary to validate the purchasing contract of the property and check that everything is 100% legally compliant.
This is not a tax, but it is a cost that the buyer has to take into consideration.
Other than this there are many other costs and taxes that must be taken into consideration that differs according to each different situation.
To know more about the costs of buying a property in Italy Click here (https://www.studiomg.eu/contatti/) or call +39 02 83660811 to book an appointment with one of our experienced advisors.