Capital gains tax on property and land
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Capital gains tax on property and land
I need to find out about capital gains tax on: 1) A property 2)Inherited land
What happens if the property or the land is sold? Does Italy have a 'capital gains tax' that applies. If there is, what is the Italian term for this tax? Can anyone help with advice/experience with this or suggest a link that explains this in English (sorry my spoken Italian is 'conversational' but I find it hard to understand written Italian)
Any advice will be greatly appreciated.
Thanks
What happens if the property or the land is sold? Does Italy have a 'capital gains tax' that applies. If there is, what is the Italian term for this tax? Can anyone help with advice/experience with this or suggest a link that explains this in English (sorry my spoken Italian is 'conversational' but I find it hard to understand written Italian)
Any advice will be greatly appreciated.
Thanks
Stratocaster- Contributor
- Posts : 22
Join date : 2016-02-23
Re: Capital gains tax on property and land
There is no CGT on inheritances.
If you buy you are subject as a non resident to cgt on the property for 5 years at 20% of the profit made.
Land is slighly different - it depends whether is building land, or agricultural or if you bought land and then got building permission - as that changes what the land is and whether it is subject to tax.
If you buy you are subject as a non resident to cgt on the property for 5 years at 20% of the profit made.
Land is slighly different - it depends whether is building land, or agricultural or if you bought land and then got building permission - as that changes what the land is and whether it is subject to tax.
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