Income tax on rent, worked example, in Italy
February 24, 2016
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1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 EUR = 1.00 EUR
3 Estimated values. Income-generating expenses are deductible when calculating taxable income.
4 Rental income earned by nonresident individuals is taxed at progressive rates.
|TAXABLE INCOME, €||RATE|
|Up to € 15,000||23%|
|€15,000 - € 28,000||27%|
|€28,000 - € 55,000||38%|
|€55,000 - € 75,000||41%|
|Over € 75,000||43%|
|Source: Global Property Guide|