TENANCIES SUBJECT TO VAT
The DL 04/07/2006 n. 223 (so-called Bersani Decree), converted into Law 04/08/2006 No 248, has radically altered the system of taxation for the leases of residential buildings and equipment, which have commercial enterprises as part of the lessor.
remember that this scheme provides:
a) Tax exemption for the letting of residential property;
b) Tax exemption on all equipment leases, except those where the landlord opts for the imposition of VAT as well? those made in respect of VAT or non-pro rata Iva less than 25%;
c) registration requirement for all contracts, even if the VAT assessment, with application of the registration fee of 1% for equipment leases.
The decree also refers to yet another piece of legislation (to be issued no later than 09/15/2006) regarding their practice. The decree? entered into force on 09.21.2006 and provides as follows:
1) Registration of contracts outstanding at July 4, 2006
Leases subject to VAT at the date of 07.04.2006, should be recorded electronically in a 1 to 30 November 2006. It 'requires the transmission of data of the contract and not the allegation. With this transmission electronically? can exercise the option to imponibilit? VAT exemption for commercial leases which relate to real property instruments.
2) Payment of stamp duty on that occasion
DOVR? be paid the stamp duty payable on the amount determined for the entire remaining term of the contract, from July 4, 2006, and can? be paid in a lump sum (with reduction) or on the amount each year on each annual installments? which has a maturity date after the same date.
3) Other entities
For individuals who are not acting in the course of business, art or profession, nothing changes than before and therefore will benefit from the direct registration with the Inland Revenue.
remember that this scheme provides:
a) Tax exemption for the letting of residential property;
b) Tax exemption on all equipment leases, except those where the landlord opts for the imposition of VAT as well? those made in respect of VAT or non-pro rata Iva less than 25%;
c) registration requirement for all contracts, even if the VAT assessment, with application of the registration fee of 1% for equipment leases.
The decree also refers to yet another piece of legislation (to be issued no later than 09/15/2006) regarding their practice. The decree? entered into force on 09.21.2006 and provides as follows:
1) Registration of contracts outstanding at July 4, 2006
Leases subject to VAT at the date of 07.04.2006, should be recorded electronically in a 1 to 30 November 2006. It 'requires the transmission of data of the contract and not the allegation. With this transmission electronically? can exercise the option to imponibilit? VAT exemption for commercial leases which relate to real property instruments.
2) Payment of stamp duty on that occasion
DOVR? be paid the stamp duty payable on the amount determined for the entire remaining term of the contract, from July 4, 2006, and can? be paid in a lump sum (with reduction) or on the amount each year on each annual installments? which has a maturity date after the same date.
3) Other entities
For individuals who are not acting in the course of business, art or profession, nothing changes than before and therefore will benefit from the direct registration with the Inland Revenue.
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