How to calculate Rental Income on overseas property for Italian Tax

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Lentini74 Member

Member since 06 January 2020

Lentini74Member24 October 2020 09:18:45

Hi all,

Is there anyone who lives and works in Italy but has overseas properties where they receive rental income ?聽 particularly properties from the UK and Netherlands.

I am trying to understand what exactly needs to be declared for Italian taxation in terms of rental income from these properties.

Thanks in advance.

oliviaf Active member

Member since 11 June 2013

oliviafActive member24 October 2020 18:44:24

Hello you'll find all the answers on

Best Olivia

Modicasa Contributor

Member since 15 August 2020

ModicasaContributor25 October 2020 04:56:11

176

You must declarethe properties for IVIFE and/or IVIE聽 tax on your tax return and the amount you earn in rental.聽 If you pay tax in the country where the property is situated then you can offset it using the double tax agreement.聽聽You need a commercialista.

Carlo Veronese Active member

Member since 07 September 2020

Carlo VeroneseActive member26 October 2020 09:11:49

Hi.
you need your foreign tax return in order to get the taxable income from that and to report the same into the italian tax return. then you will recover the tax paid in the foreign Country (not always the whole amount). Of course You need a commercialista.
That's me...
Cordially
Carlo

Lentini74 Member

Member since 06 January 2020

Lentini74Member26 October 2020 11:03:31

Thanks Carlo for the reply.聽 In terms of the tax paid in the UK we have a tax free personal allowance for the first 拢12,500 income and pay 0拢 tax on this.聽 Does this come into the calculation when calculating nett income position for reporting to Italy the foreign income ?

Thanks

olmauri Member

Member since 21 July 2023

olmauriMember21 July 2023 21:54:53

@Lentini74 Hi! Did you get an anwer to your question? I'm in the same situation, thank you very much!

stumpy Laos Expert

Member since 27 November 2009

stumpyLaos Expert21 July 2023 21:58:59

17969

@Lentini74 Hi! Did you get an anwer to your question? I'm in the same situation, thank you very much!
-@olmauri

As this is an old inactive thread I suggest you open a new post on the subject.

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