Italian News

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Italian property transactions and the covid-19 pandemic

Within a few weeks the covid-19 emergency has escalated from a relatively limited Far East problem into a world pandemic. Every country has been affected, unfortunately, Italy appears to be one of the worst affected. In the face of the escalating casualties, Italian authorities have issued progressively more restrictive legislation culminating in a Decree issued [...]

By | April 2nd, 2020|Italian News|0 Comments

Italian “Living Wills” and the new Wills databank

Italian Living Wills (“Dispozizioni anticipate di trattamento” or “DAT” ) are legally binding statements of choices made by persons who, fearing they may not be mentally capable in future, make advance decisions on future diagnostic assessments, therapeutic or medical treatments which may be applicable / available to them. Under the Italian Constitution although personal health [...]

By | January 31st, 2020|Italian News|0 Comments

Budget 2020 – The Italian property owner`s New Year

On Christmas Eve 2019 the Budget for the year 2020 (Legge di Bilancio) was approved by the Italian Parliament, a raft of rather disparate provisions. The law came into force on 01.01.2020. Unfortunately, there are very few presents for property owners. Most of the current tax rebates (Bonus fiscali) for property owners who improve their [...]

By | January 24th, 2020|Italian News|1 Comment

“Bonus Fiscali”: cash back on Italian properties restoration and energy efficiency expenses.

For several years now, Italian income tax legislation has allowed a tax credit as a deduction from the taxable income for energy efficient expenses incurred in maintaining, restoring and improving Italian properties (Detrazione delle spese per interventi di recupero del patrimonio edilizio e di riqualificazione energetica degli edifici). This tax credit (Bonus Fiscale) is available [...]

By | October 4th, 2019|Italian News|0 Comments

Taxation of Trusts in Italy: Three steps forward …

Notwithstanding some relatively recent legislation, trusts have still a difficult life in Italy. From a tax point of view, there has been an ongoing conflict between the Italian Revenue and trustees / their professional advisers on when and how Trusts should be taxed. Not surprisingly, since 2006 the Italian Revenue (Agenzia delle Entrate) held that [...]

By | July 4th, 2019|Italian News|0 Comments

When is a property purchase void, because of a breach of planning regulations? The Italian Supreme Court draws the line.

A specially constituted Italian Supreme Court has recently issued an important ruling which establishes when a breach of planning regulations invalidates a purported sale of Italian property. This is the most extreme penalty for a breach of planning regulations. A buyer may go through the purchase process, pay the price but fail to acquire title [...]

By | April 18th, 2019|Italian News|0 Comments

Recent Italian property statistics: continuing improvement of the residential market.

Recent official statistics point to continuing, slow improvement of the Italian property market. On 21.11.2018 Banca d` Italia (the Italian central bank) published a business survey (Sondaggio congiunturale sul mercato delle abitazioni in Italia) of 1,441 Italian estate agents. Agents reporting price reductions have reduced (down to 16.3 % from 19.5 % of July 2018), [...]

By | December 24th, 2018|Italian News|0 Comments

Italian property equity release – an outline

Because the Italian property market has been stationary for some time now, owners of Italian properties sometimes look for alternative ways of releasing some equity from their properties without actually selling them. The pros of these options tend to be that apart from getting some liquidity, the owner can continue to enjoy his Italian property. The [...]

By | December 15th, 2018|Italian News|0 Comments

Don`t delay completing your Italian property acquisition

A recent judgement of the Italian Supreme Court published in February 2018 is the epilogue of a sad story of the Italian couple, who delayed the completion of their property acquisition, only to see their property being taken away from them and purchase price they had paid lost in the whirlwind of their vendor`s insolvency. [...]

By | May 23rd, 2018|Italian News|0 Comments

Focus on Italian estate agents: their duties and responsibilities

Buying or selling Italian residential properties frequently involves the assistance of local Italian estate agents. It is important to establish the right relationship from the very beginning, crucially before any document is signed and any money is paid. It is also important to realise that Italian estate agency law is very different from the English [...]

By | January 15th, 2018|Italian News|0 Comments