hi if i buy a house in italy and want to resell :rolleyes: it before i become resident i.e within eighteen months will i be penalised in any way and will the tax be more.
Category
Property Sales/Rental Advice
Submitted by Anonymous (not verified) on Sat, 12/10/2005 - 12:16
[QUOTE=Carolann]hi if i buy a house in italy and want to resell :rolleyes: it before i become resident i.e within eighteen months will i be penalised in any way and will the tax be more.[/QUOTE]
If you bought as "prima casa", yes, you'll be penalised, paying the 7% you saved, plus 30% as fine.
If you didn't buy as "prima casa", there will be no penalization and no further tax, unless there's a "declared" capital gain
Submitted by Anonymous (not verified) on Sat, 12/10/2005 - 18:14
[QUOTE=Carolann]hi if i buy a house in italy and want to resell :rolleyes: it before i become resident i.e within eighteen months will i be penalised in any way and will the tax be more.[/QUOTE]
If you bought as "prima casa", yes, you'll be penalised, paying the 7% you saved, plus 30% as fine.
If you didn't buy as "prima casa", there will be no penalization and no further tax, unless there's a "declared" capital gain