Edited by MA
The Council of Ministers has given the go ahead for the new TASI tax, which will replace IMU. This new tax is primarily for first homes while for second homes, IMU will continue. There is still a lot of uncertainty with the exact calculations of this new tax which isn’t good. Given that each municipality council can substantially vary the tax levy, there are likely to be as many as 6000 different taxation rates (as there are many Italian municipalities). The effect of this, of course, given the considerable latitude of local authorities, is that tax treatment will differ from town to town, from citizen to citizen, from family to family, with obvious inequalities throughout the Peninsula. We will just have to see what happens, hoping, as always, that people are not too badly affected.