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Property rentals in Italy – goodbye cash 2014

By Gareth Horsfall - Topics: Italy, Uncategorised
This article is published on: 29th January 2014

From 2014 owners of properties in Italy, which they rent, will be expected to have the rent paid only through track-able methods of payment.

The money will need to be paid by bonifico / bank transfer. (I assume that means Italian or overseas banks as long as it is track-able) Penalties of sanctions against both parties (renter and owner) can be made if they are not adhered to and subsequently found out. The only thing that seems to be excluded is public buildings, such as Case Popolare or other similar public buildings.

Obviously, this move is intended to ensure that all monies from rentals (holiday or long term rentals) are being declared properly in Italy How it will be policed is another matter, but if the last 2 years are anything to go by they will surely find a way, or at least target a select few which will create a panic that will bring the masses into line.

If you are concerned about this or another other financial planning issues regarding the latest taxes in the Legge di Stabilita 2014, then you can contact me on gareth.horsfall@spectrum-ifa.com or call me on *39 3336492356

Article by Gareth Horsfall

Gareth HorsfallIf you live in Italy and or have financial interests in Italy you can contact Gareth Horsfall directly on: gareth.horsfall@spectrum-ifa.com to request more information about how he may be able to help you. Alternatively you can complete the form below and a message will be sent to him. If you would like to read more about Gareth's work you can follow his blog on tax and financial planning in Italy HERE

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