In reply to A newbie all over again! by Annec
In reply to A newbie all over again! by Annec
This is taken from another forum... I wonder if anyone here can verify the information:
"I have been trying to get an answer to this with my Friend Egidio Bruno at Agency Services -SCALEA- - Home (bill paying service) and he has found the following:
Taken from this document:
[url]http://www.agenziaentrate.it/ilwwcm/..._pf_estero.pdf[/url]
Ok the situation is this (today, hopefully it won't change too quickly):
The need for foreign residents to make a declaration for income on their home in Italy is neccessary if the follow criteria is met:
-The property generates an income (ie is rented)
-The rendita of the property is high enough, the calculation is complicated but basically if your rendita is above 358euro.
The rendita catastale can be found on your deeds or visura catastale.
Luckly for most people the rendita of their property will not arrive at 358 therefore they don't need to make a declaration for IRPEF. However if your property does have a rendita which is 358 or above then you will need to make a declaration for IRPEF and pay the nominal tax (in Italy we are not just taxed on income, but potential income )
You can make the declaration by going to the agenzia delle entrate where they offer assistance to non residents for filling out the modello unico. Or you can go an see a commercialista or accountant (easier but costs money!).
DISCLAIMER
Lastly I want to finish that this information is provided in good faith and I wil not be held responsible for an errors, as it would be impossible for me to be 100% that this is correct as things change every 5 minutes. So if you get any problems as a result of this information, don't sue me basically!"
In reply to A newbie all over again! by Annec
Firstly, the link you attached is broken (I think you've cut & pasted the whole thing?);
Second, I'm not aware of any need for the property to generate any income (beyond the notional one we're discussing) and furthermore, rather than BE rented it must NOT be rented to be eligible for this tax - as rented properties by their nature (assuming they are rented througout the year) don't give the owner the potential use/benefit which this legislation wants to tax them for. From memory, the position if a holiday home was only rented sporadically (a few weeks a year in hgh season) was rather unclear - the wording in the tax doc's simply said that the property would be subject to the notional tax if "not rented".
Thirdly re. the rendita figure of 358 - I do believe that the tax was due only if the calculated figure (a function of the rednita catastale) exceeded some minimum (something small like €11 IIRC but memory is bad!) - but TBH the €358 would generate a tax @23%) of more than €50 so I don't think that sounds likely.
I'm no more expert than the next man, and I haven't looked into this or a while (but see [url]http://www.italymag.co.uk/forums/legal/7094-sorry-vague-2.html#post65834[/url] for old discussion) ... but armed with that, I still had to convince a local commercialista that I wasn't mad. He initially denied there ws any such obligation and only after I downloaded the section of the PF tax return guidance notes relating to this tax did he admit I was right.
Hope that helps.
In reply to A newbie all over again! by Annec
Is the charge to tax mitigated in the event that the property is uninhabitable - in the same way as ICI is reduced in those circumstances?
[quote=Po' Londra;91974][B][/B]
I've tried to raise this with my commercialista but she refuses to believe we need to return the form. She is adamant that there are still exemptions if your income is below a certain level.:veryconfused:
[/quote]
This is what has changed. If you are not an Italian tax resident then you no longer get the exemptions.
When? The last Prodi budget I think. Might have been the one before that. Only two to choose from so not that hard.