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PostPosted: June 25th, 2011, 2:33 pm 
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Joined: May 15th, 2009, 9:43 am
Posts: 153
Good morning,

Please let me inform you when an individual wants to buy a house in Italy normally he has to pay the following standard rates on the paid amount: 7% for registry; 2% for mortgage; and 1% for Land Registry.

That’s the normal Italian tax implications for a real estate purchase. But for first time buyers of full ownership personal use residential property, there is a special treatment under Italian Law. This treatment entails granting tax benefits such as the reduction of registry, mortgage and land registry taxes which are applied to the property value declared in the public Deed of Transfer.

in order to take advantage of the first time buyer benefits you need to declare in the Deed of purchase, under risk of forfeit, that the property is located either within the Municipal territory in which you reside or that you intend to establish such residence within 18 months from the date of purchase. If the latter case applies, proceed with extra care because if the residence is not transferred to the Municipality in which the property is located within 18 months from the date of purchase the benefits will be forfeited and the office will usually claim back the standard tax payable increased by a penalty of 30% plus interest for payment in arrears.

Concerning the case of penalty we want to make you are aware that at “Zagamilaw” we have successfully assisted some British clients who couldn’t move their residence to Italy. More exactly on our clients behalf we have claimed the case of force majeure to giustify the missed relocation.
Therefore there is a “Risoluzione” which states that although the buyer doesn’t move his residence within 18 months he can’t be forced to pay the difference in case of force majeure.

Here you have the Italian statement: “Nel caso di mancato trasferimento della residenza entro 18 mesi dall'acquisto, nel Comune ove e' posta l'abitazione acquistata, l'Agenzia delle entrate esclude i casi dove il mancato trasferimento sia dovuto a cause di forza maggiore sopraggiunte successivamente alla stipula del contratto (Risoluzione n.140/E)”. So once again in English Language the meaning is that in case of no change of residence within 18 months since the date of purchase in the town where is located the property, the Revenue office cannot charge the buyer for the difference where the no transfer is due to reasons of force majeure occurring after the conclusion of the contract.

For all this reason please be confident you can claim your rights also at the Revenue Office and we will be pleased to assist all of you since we are expertise with taxation law.

Best Regards

Avvocato Paolo Zagami
Zagamilaw International Law Firm

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