Luxury homes in italy one of the most profitable taxation in europe

Compared to other European countries, taxation on luxury real estate sales in Italy is very convenient: it represents about 1.7% of the price, compared to the European average of 3.8%.
He highlighted a research conducted by UHY, an international network that brings together tax advisory, review and job counseling companies, which calculated the fees paid on purchasing a $ 1 million worth of property.
The heaviest tax burden was that of Belgium, which cost over 113,000 euros, or 11.3% of the price.
Considerable was also the outlay in Spain, where 80,000 euros (8%) were paid, while in France, Germany, Croatia and Malta about € 50,000, or 5% of the sale price, was made.
Italy, on the other hand, turned out to be one of the lowest-paying European countries for the purchase of luxury real estate, with just 1.7% of the price. Lower figures were paid only in Ireland (1%) and Romania (0.2%).

"In Italy, the tax on house sales is very beneficial," said Cristiano Fasanari, partner of UHY Italia, "thanks to the mechanism that takes the basis of the cadastral and not the price, as it happens abroad. Cadastral rent, recently updated, is generally less than 30-40% compared to market values. "
On the global footing, India and Australia have a fairly high tax rate, respectively with 5% and 4.8% of the sale price, while in Japan the outlay is 3% and in China at 2.1%.
The most convenient in terms of taxation are Canada (1.8%), the USA (0.6%) and Russia, where sales tax on real estate is just 0.3%.