Tributes to be paid for property purchase

When you buy a property, it is necessary to know the amount of taxes payable to the State: their weight, in fact, may be such as to influence the choice of the property in a decisive way.

The tributes that come into play are divided into two groups: on the one hand and the VAT registration taxes, mortgage and land on the other. Their amount, however, varies markedly if it is possible to enjoy the facilities on the first house or not.

The sale of a property is not subject to VAT if the seller is a private individual. In this case, the tax is equal to 7% of the amount declared (3% if the first house), while the mortgage and land are respectively 2% and 1% (168 euro for both if the first house).

The same rates and benefits apply if the transferor is liable to pay VAT but the transfer is exempt from such tax: this happens in every case in which the merger, while the subject performed by VAT, is not taxable according to the rules we are going to describe.

The sale is taxable for VAT purposes when the transferor is the construction company and the house was completed by the same (or restored) in the previous four years old, or if the house has been rented for at least four years in a program of subsidized housing . The VAT rate is 10% or 20% depending on a number of assumptions that articulated here is not possible to deepen.

If, however, you can extend the facilities provided for the "first home", the rate used is equal to 4%.

Whatever the rate applied, finally, if the sale transaction is taxable for VAT, other taxes (registration, mortgage and cadastral) always apply a fixed amount, equal to 168 Euros each.

 

14/10/2010

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Translated via software

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Source:

Italian version of ReteArchitetti.it