In reply to A newbie all over again! by Annec
In reply to A newbie all over again! by Annec
[QUOTE=will]...would advise before you do this to think beyond the temptation of saving a bit in purchase tax in the short term and look at the wider picture....[/QUOTE]
Sometimes the driver is not greed but 'the system'.
I can imagine that there is sometimes little room for negotiation; if one buys from someone who has under-declared themselves (or bought locally from someone to whom under-declaration is the norm) then to expect everyone else to re-normalise the process that's been 'broken' (or maybe "happily-ticking-along-thank-you-very-much") for a long time seems a bit idealistic.
I understand the legal position & the rationale used when giving legal advice but it's about what happens in (very) individual circumstances that's key!
In reply to A newbie all over again! by Annec
[QUOTE=will]Kim and David,
of course you may be right, in some cases there may not be much choice but to walk away if you choose not to underdeclare........but remember we are advising somebody who clearly hasnt bought in Italy before to understand that there are repercussions to underdeclaring that are not at all obvious....and as many know its very easy to get caught up in the excitement.......by the sound of things both you and ourselves for instance have a CGT liability at the moment that could be greatly effected by underdeclaring......I dont know about you but this was very far from my mind when we purchased.....I wish this forum had existed then......of course once all the ramifications ARE understood each individual can make an informed judgement as to whats best for them...........and what degree of risk they are willing to take.....[/QUOTE]
Were you on anything at the time of writing?
The background can be found in a previous thread ([url]http://www.italymag.co.uk/forums/showthread.php?t=1159&highlight=catastal[/url]) but as to HOW LOW, I'd hate to enter that afray(!)