Real estate in Puglia : a beneficial investment
Discover the tax nenefits for real estate in this incredible and booming region
Cheaper property tax
As a property owner, you will be required to pay tax each year, which is calculated on the basis of the value of your property, its location and the price of the land. In Italy, this is the real estate tax. The cost represents approximately 1% of the cadastral value of the property, which is re-evaluated every eight years.
The applicable rate, as well as the revision of the cadastral value, are specific to each region. This tax is collected by the Italian Revenue Agency, an intermunicipal body that was created for this purpose.
Exemple : €150 per year for a €100,000 dwelling.
Rental tax
If your property is rented, the base tax is equal to the gross income. The tax rate is 24%.
If your property is not rented, but used solely for personal purposes, for example, income tax is owed at 24% of hypothetical rental income, which is estimated to be 2% of the cadastral value. If the cadastral value has been revised since 1994, the rate is 1.1%.
Exemple : €150 per year for a €100,000 property.
Inheritance
As with any country, this is quite complicated in Italy and is always handled on a case-by-case basis.
However, please note that the drafting of a will is included in our services, which will simplify the processes for inheritances and donations and bring you peace of mind and serenity.
Declaring my second home
You are required to include your overseas residence in your Belgian tax return.
In accordance with the treaties concerning double taxation, income will be taxed in the country where the property is located. As a result, Belgium must make income from this property tax exempt.
Registering my car in Italy
There is no registration tax in Italy.
If you wish to register your vehicle, you must apply for registration in the municipality where you reside.
Road tax must be paid for all cars that are registered in Italy. It is paid annually, usually in your town hall, and the price depends on the make and size of your car; expect to pay approximately €85/year for an average car.