There is a probability that Italy will pass a flat property income tax reform this year. The government is currently reviewing a bill that would allow private property owners to apply a 19% to 21% flat tax rate to their rental income.

This bill, if passed, would benefit property investors with a taxable annual income of more than €28,000, as opposed to the current rental tax, which benefits taxpayers with an annual income of less than €28,000. With the added options in the bill taken into account, property owners could save about 50% on property income tax.

Source: Italymag.co.uk