TAXATION IN ITALY

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The Presidential Decree no. 131/1986 provides a list of documents subject to compulsorily registration and documents that, in the event of use, may be registered voluntarily.

In particular with reference to the documents related to real estate, or assets drawn up in Italy, corporate tran- saction papers and documents stipulated abroad that have the purpose of constituting or transferring real rights in intangible assets or companies located in Italy, the lease or rent of such assets must be registered.
The law provides for a different expiry date with reference to the mandatory registration of each documents li- sted, while for the documents subject to registration “in the event of use”, no expiry date is provided.
All the other documents can be voluntarily submitted for registration by anyone with an interest in doing so.
Tax is computed by the competent tax office by applying a tax rate determined by the value set out in the regi- stered document, or by the service contained therein. All applicable rates are stated in the rates sheet attached to the Presidential Decree no. 131/86.
The applicable rate varies from 0.5% to 15%, with reference to the type of the relevant document for registration tax purposes, with a minimum payable of EUR 67. However, for the same type of documents a fixed tax equal to EUR 200 is due.
Please note that also on the documents relating to the sale of assets and provision of services subject to VAT (including non-taxable provisions due to the lack of territorial premises, as well as exempt provisions), a fixed tax equal to EUR 200 is always due.
A notable exception is the leasing of instrumental assets which, despite being subject to VAT, is subject to pro- portional registration tax (1%).
The tax must be paid to the Tax Authorities at the time of registration. Public officials who have drawn up, re- ceived or authenticated the document, those subjects for whom the registration is completed (contracting par- ties or assignees) and real estate agents are all liable for the payment of taxes.