Home » Posts tagged 'property'
Tag Archives: property
Owners who remove their properties from Local Lodging and make them available for long-term letting can be spared mandatory CGT assessment. This push to long-term letting integrates the government’s package of proposals in the 2018 State Budget. Once confirmed, this measure will be the only Capital Gains Tax refuge once an owner stops an “AL” activity.
Property Owners as well as the Tax Office may request an additional “IMI” (Municipal Property Tax) evaluation if there is disagreement over the original set values. However, any such challenge does not suspend the payment of the first evaluation.
The Budget proposals for 2017 foresee that real estate owners with high-value properties (VPT of more than 500.000€) will face an additional tax next year. The new levy will be progressive, to be accumulated with the regular IMI. It is hoped that the tax will provide an additional €100-€200 million to the state coffers.