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Buying a house

When you buy a house, you are due to pay all the Register taxes and/or, alternatively, the V.A.T.


First time buyers

 

If you are a “first time buyer”, registering your contract, you will be automatically entitled of a favourable tax regime, both if you buy the property for your relatives or for yourself.

Necessary requirements you have to meet:

  • The property you are buying is not classified as a “luxury property”;

  • The property you are buying should be located within the town/city where you already have your permanent address, or where you are going to settle within the forthcoming 18 months, or within the town/city where you have your business’ head quarter.

  • The buyer should not own entirely or share any other property within the same tow/city.

  • You should not own entirely or share (not even with your spouse) any other property within the same Country, bought with the same favourable tax regime.

If the seller is a private citizen with no V.A.T. number, tax break will consist of:

  • A lower Register tax rate (imposta di registro) (3% rather than 7%)

  • Payment of a fix rate tax (168.00€), rather t han 2% or 1% tax.

 

If the seller is a Company, you will be due to pay the following taxes:

  • V.A.T. plus fixed rate taxes (168€), if you are buying from the House builder’s Company and the transaction will be completed within 4 years from the time the property completely finished.

  • 3% register tax and fixed rate taxes (168€) if you are not buying from the manufacturer or if you are buying a house older than 4 years.

 

Buying a housing property (no “first time buyers”)

If you are buying a housing property you are due to pay the following taxes:

  1. If you are buying from a private citizen, or from a Company which is not the manufacturer, or if you are buying a house older than 4 years:

  • Register tax 7%

  • “imposta ipotecaria” tax 2%

  • “imposta catastale” tax 1%.

 

  1. If the seller is the Manufacturer ( or the Company that renewed the property) or the property is not older than 4 years:

  • 10% V.A.T.

  • Fixed register tax 168.00€

  • Fixed tax (imposta ipotecaria) 168.00€

  • Fixed tax (imposta catastale) 168.00€

If you are buying a “listed building”, you will have to pay a 3% register tax.


How to calculate your taxes

All taxes (imposta di registro, ipotecaria e catastale) are due to be paid to the Notary (Notaio) at the time you sign your contract.

From 1 st January 2007, if you are selling a housing property to a private citizen and not to a Company, the revenue from landed property will be considered as the taxable amount (for “imposte di registro, ipotecaria, catastali” taxes), rather than the amount you actually paid.

Value of landed property (valore catastale) will be determined by multiplying the revenue from landed property – reappraise of a 5% - for the following coefficients:

  • 110 for the first house

  • 120 for A, B, C categories properties (offices A/10 and shops C/1 are not included);

  • 60 for categories A/10 and D offices;

  • 40,8 for C/1 shops and categories E properties.

If the property sale is subject to V.A.T., the taxable amount will be considered to be the agreed price and not the value of the landed property (“valore catastale”).