New Italian Tax: IMU

With the reform of fiscal federalism, a new tax has been introduce, the Municipal Tax Unica (IMU), which replaces both the income tax on income land of second homes, and the ICI, which was introduced in 1992 and quickly became one of the entrances most important in the financial statements of Commons, before being abolished by the first houses. The IMU rates may be fixed by each municipality by increasing or decreasing the standard rate.

Who should pay the IMU? The new tax affects the all owners of all properties, both residential and commercial. The first house you live in, may receive a lump-sum allowance of 200 euros plus 50 euros for each child (up to 26 years of age) that makes up the family. The condition for a house being considered a principal residence is that the owner will abide by birth, and habitually resident there. The house granted free of charge to family, unlike ICI, is not considered as a main residence. For those who have houses to rent, there will be a halving of the ordinary, but only since 2015. Each municipality can still resolve a reduction of up to 0.4 per cent. The IMU is also entitled to payment to the owners of the building areas (where the buildability can also descend from the only land-use plan). In this case, the tax base is determined by market value as of January 1 of the year for which you pay the tax.

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Created by Andrea Poidomani