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Under Italian law the taxation of buildings is inexorably connected with the Local Land Registry. Italian Income Tax (IRPEF) and local taxes like Italian Council Tax (Imposta Comunale Immobili - ICI) and refuse collection tax (TARSU) are levied on the values / data registered at the Local Land Registry (Catasto) against each property. It used [...]
In record short time and with the support of the whole political spectrum, new legislation was recently passed by the Italian Parliament for the protection of the "Made in Italy" appellation. Under this new legislation all "Made in Italy" finished and "intermediate" textiles, leather and footwear products offered for sale, must bear a compulsory label [...]
New regulations, in force since the 1st March 2010 introduce strict statutory deadlines for Italian banking services. Banks are sometimes slow in crediting payments, and very fast in debiting. New legislation implementing an European Union Directive now introduces statutory deadlines for all banks operating in Italy. Ordinary Italian bank transfers in Euro must now be [...]
ITALIAN ENERGY PERFORMANCE CERTIFICATES: JUST ANOTHER HURDLE OR AN OPPORTUNITY ? If you sell a house or a flat in Italy, you are required to produce an energy performance certificate ("Attestato di Certificazione Energetica " - ACE for short) effective from 1st July 2009, when some legislation issued in 2005 eventually came into force. This [...]
"Finanziaria 2008" or the latest Italian budget is a complex, condensed and sometimes confusing raft of legislation which came into force last month. In an attempt to combat tax evasion in Italy, it has introduced a potential new trap for unwary buyers. Because of the way it operates, this new risk is difficult to ascertain [...]