Property rentals in Italy – goodbye cash 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 email@example.com or call me on *39 3336492356