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Italy

In Italy property tax includes municipal property tax, transfer tax, and value-added tax (VAT).

The total property tax amount paid in Italy depends on factors such as property value, location, and residency status.

Foreign nationals owning property in Italy should be aware of their tax obligations. While Italy does not impose specific property taxes based solely on foreign nationality, individuals must comply with reporting requirements for foreign assets and income under Italian tax laws. Failure to meet these obligations can lead to penalties.

Imposta sul valore degli immobili situati all’estero (LVIE) is a wealth tax on real estate properties owned outside of Italy. Italian residents who own property abroad are obliged to pay the LVIE. The tax is paid by:

The Imposta unica comunale (IUC) was a tax in the Italian tax system introduced by the Stability Law for 2014. The intention behind this tax was to make the regulations on local property taxation organic. Although its name implies a sense of unity, the IUC did not replace all municipal taxes; instead, it brought together three distinct components: the IMU (Imposta municipale propria), the TASI (Tributo per i servizi indivisibili) and the TARI (Tassa sui rifiuti). With the Budget Law 2020, TASI is abolished and replaced by the new IMU.