Italy. The new tax will save up to 50% of the income from the rental housing

After years of discussion, in 2011, most likely, the reform of the income tax from rental housing can be carried out. The Italian Government is currently considering a bill to allow private individuals owning residential real estate, applied to their smooth tax revenues from rent. Now we are discussing a fixed tax rate of 19 to 21%, instead of the current variable rate, which can reach 43%. Thus, the tax savings can be up to 50%. It is expected that the new tax will apply taxpayers whose annual taxable income exceeds 28,000 euros. However, if they agreed some recent amendments, the tax will be applied regardless of the income level. According to Italymag