Transfer taxes charged upon the acquisition of the real estate (alternatively, registration tax or VAT) vary depending on the nature and tax status of the buyer (foreign private individual, foreign company purchasing and owning the real estate directly, or foreign individual or corporate investor purchasing and owning ... •Italian income tax is called IRPEF (impostasulredditodelle personefisiche). Irpefis a progressive tax rates, with a maximum rate of 43% and a minimum tax rate of 23%.
The COVID-19 pandemic is expected to drag Italy's already ailing economy into deep recession this year, after the government imposed travel restrictions, and closed businesses except food and medicine for weeks. It may concern international investments for the purchase of offices or shopping centres, or it may be the acquisition of non-performing loans backed by real estate. If 2016 closed with operations for a value of 9.5 billion euro, half of which from international investors, in 2017 the investments might amount to 10 billion euro, registering a new record.