1391 Buying at auction and tax

I know there is a lot of things on here about taxes that are payable once you have purchased a property in Italy but... I cannot find anything about what is payable if you buy at auction.

I am in the process of buying at auction and the only taxes I have been made aware of are:

20% of value of property as VAT
Register of property in Catasto (Land Register)

Should I be aware of any others at purchase stage?

Thanks

Shepsterboy1

Category
Legal

Submitted by Anonymous (not verified) on Wed, 09/21/2005 - 11:45

If you search the threads by notaio, and marc, you will come across a very good indication of the taxes you will be expected to pay, why would you think buying at auction would be different to the more normal purchasing methods ? I believe the purchase will be exactly the same, the auction will merely fix the purchase price. Good Luck. :)

Submitted by Anonymous (not verified) on Thu, 09/22/2005 - 06:20

Thanks George. I will look throught he threads as suggested.

The reason I think it might be different is because that is what we have been told by our agent.

We have been told the process is very different to the normal process and that VAT is the tax you pay instead of the taxes associated with the normal process.

My reason for asking is that I just want to make sure that this is accurate and I am not missing something that I need to factor in now.