Your basic tax questions answered...
( As a foreign individual person )

Purchase taxes
Once the price has been agreed, your lawyer will carry out searches against the property at the Land Registry. When he is satisfied he will arrange for you to sign the contract. The contract is sometimes preceded by a binding " buying proposal " where the buyer is legally bound to buy.
At the time of completion both parties appear before an Public Notary who draws up the final deed of sale . The notary registers and transcribes the original document with the Land Registry ( Registro Immobiliare) and issues a certified copy of the deed of sale.
A) The transfer tax and V.A.T. are usually charged at the rate of 10% of the amount appearing on the deed, but can rise up to 20% for luxary homes rating (only a few in the Costa Smeralda)
B) Notary fees depend on the price of the property and are higher ( as a percentage of the price ) on cheaper properties. They are generally between 1 and 2 per cent of the price apparing on the deed.

Power of attorney
If you are not able to appear before the Notary in person for the signing of the Transfer Deed you will need to authorize someone , such as your lawyer , to appear for you by means of a power of attorney signed at an Italian Consulate or a Notary Public. In any case remember that the power of attorney must be authenticated according to the Hague convention.

Yearly Taxes & Fees

All property owners in Italy are liable for three separate taxes every year. These taxes are:

IRE/IRPEF( Income tax )
Non-residents must fill in a declaration stating the details of their italian property, as property is considered to provide an income. Whether it's let or whether it's occupied as a private residence makes no difference. The "assumed" income is based on the property's fiscal value ( rendita catastale ). Irpef is paid in two instalments in may and november. The present minimum rate of tax is 23% calculated as follows:
A) if the property in not rented on the property's fiscal value plus 5%.
B) if the property is rented on the amount of the rent minus 15%.

ICI ( Local Community Tax on Property )
is paid by anyone who owns a property in Italy, whether they are resident or non-resident. The present rate of tax is 5 per thousand based on the property fiscal value plus 5%.

Local community tax for rubbish collection
Euro 1,33 per sqm. to be paid in two instalments (june and december) to the local Municipality ( Comune of Arzachena ) on 100% of the coverd surface of the property excluding garden and terraces.

Accountant surveyor assistance
As you are a non-resident, the best solution is for you to name a representative responsible for filling in and filing your declarations and paying your taxes. He will charge you a pro-rata fee for the work involved.

Consortium Fee ( to be paid to the Consorzio Costa Smeralda )
is referred to the following indicative measures: